timwest
Long

Corn ZC1! Back to the base pattern, oversold, plenty of upside

CBOT:ZC1!   CORN FUTURES - ECBT
484 17 9
Corn             looks like an oversold, buy candidate here. Corn             was breaking out of its base earlier this year and formed a beautiful technical pattern that I caught using the symbol CORN             ( Teucrium Corn Fund             ). Corn             made all of the news headlines in May when forecasts for drought were everywhere and the price had already run up 10%. Granted, corn             has been a lot higher in recent years, but when a market can't push higher on cataclysmic forecasts, then it's time to get out.

Well, now we are back to the base and I don't hear many bulls or fear-mongers trumpeting about corn             anymore. I like that it is oversold and near key support labeled with the green base support box.

Use a stop beyond the standard deviation bands because corn             is whippy, especially at the turns. Use options to avoid getting your stop tripped right at the edges of the market bottom.

Cheers. Tim ZC1!             441'6 last UPside 489. Downside 423'0.
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All are alive? USDA report is the most importent in agricultural products. So yesterdey report said thet prducing of corn is rise this year they expected.I can say more all agricultural products fall yesterday. I waching for agricultural more then 2 years. After each USDA report market fall down. (( But I think, thet in few day market begin to rise.
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monthly chart with support
snapshot
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Thanks it is very helpful to see more.
I am sad, thet all all CBOT instruments don't work from yestarday :( May be you now why?
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2use LEONES
yes, monthly does look quite nice.
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Yes, Corn is a long way from its highs and settling back towards the bottom ranges on the monthly chart. Nice chart.
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Bad news. USDA report falls the market (
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2use alexeyhoroshunvk
I was almost publishing an idea and wham -3%, what are the odds
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wow that is a big drop, lets' see the close...
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nice one TIm!
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Hello Tim, Could tell me you think is a good entry point and stop loss for corn? I am thinking 420 with a stop loss at 400; target profit at 430.

Thanks
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