(left panel): As I wrote in my previous post, the positive divergence finally pushed price higher, and that caused a succesful break of the short term . Price retested the Kumo and first important Key resistance at 345-350. Look how perfectly the averages work this time too in system. The two highest candle body tops were exactly touching the level of Senkou B (52 days avg ) at 344. Tenkan and Kijun stay together, not sure if they will give a weak cross, but has some chance. Now Price is back to Tenkan and Kijun, I think we'll see some more sideaway moves here (daily DMI-ADX also suggests some non-trending period is ahead of us again), where bears will have less and less chance to make money on shorts.
What could be really interesting here is if Price action in next fews weeks will repeat the pattern as of before the trend break. In such a case it would form a very interesting and very reliable reversal pattern, an Inverted . What's more, if Price starts some sideaway consolidation again but stays above 327 for more then a week, then it will have a chance to form a smaller Invert before it breaks higher in case to, or touch above the Kumo. The measured tgt from this smaller inside IHS pattern would be ard 365-370. Then we will have to examine the criterias of a Kumo breakout, but likely after the first attempt we'll see some pull back and maybe Corn will form the next major right shoulder too. Anyway, this is just a theory. One thing is sure, when tells us to buy, we'll have to buy, and if Corn starts trending, possible tgts will be 420, or maybe even 480.
Weekly chart: has a setup, but look at that massive positive divergence in , while it seems Price is about to make a breakout from the . is about to give buy signal too, Slow started to climb up from the oversold zone. started to point down, which means the weekly momentum (which started in May 2014) has been loosing its momentum. First resistance here is weekly Tenkan Sen at 344. A close above that will start a weekly counter trend, with a possible retracement tgt to Kijun Sen at 420.
Keep your eyes open, as if your timing is good enough, this move can bring you a minimum 20 % gain in Price.
Strategy for now is: start to accumulate small long position between 325-335. Wait for more signals, and leverage up position when calls for a trend reversal.