- Small change in setup. Still , but as Tenkan dropped down to price after 9 weeks, by now Price is above Tenkan. Price is still far below Kijun Sen and forward Senkou B. (26 weeks as 52 weeks averages, which are at same level now: 376+)
- The whole picture looks like a 2 years wide range with 319 low, 425 high and 376 mid equilibrium. Unless bears get back into action and force a lower low on weekly close, longer term averages will not move any lower, they will stay around 376.
- is very interesting. In case it crosses up, bears will not have enough power to push corn market lower, and then pull back to 360-376 could take place.
- Heikin-Ashi has some bias this week, but haDelta and haOscillator are still stuck at zero.
- is neutral, as price seem to hold above Kijun Sen again. Please note how low is causing a Kumo compression: Forward Senkou A and B lines got very tight. A thinner Kumo ahead would be easier to break through.
- Heikin-Ashi ma signal a reversal today. haDelta crossed up, haOscillator may follow if today we have an inside candle.
- EWO is neutral
- ATR has been very low. This also reflects lack of . Commodites may trade sideaway with low for some time, but once they decide to trade in direction, the moves are always sharp. This is why I like low environments. My money management system always calculates with ATR when building a position. Lower ATR means more tradable contracts for one trade unit size, with still same nominal cash risk.