Flubberpants
Long

Corn upside correction (LT Bear - ST Bull)

CBOT:ZC1!   CORN FUTURES - ECBT
19 0 0
TA:
On a weekly scale, Corn Futures             have completed 5 waves downwards from Summer 2012 to Autumn 2015

I believe we are current witnessing a retracement back to the USD430 level ( LT             resistance traced back to 2007)
- refer to waves A-B-C

Additionally, Corn             prices have mostly respected the Fibonacci Levels, hence, this provides some additional support to my target of USD430.

Fundamentals:
In the long run, based on a few factors, I expect a more bearish outlook for this commodity:

1) USDA abandoning its forecast of China corn             imports - China current holds 40% of Corn             Inventory. Hence, China's self reliance             on its own Corn             inventory may reduce demand for US Corn             .
2) Rising USD may adversely impact the demand from foreign corn             importers as Corn             becomes more expensive to purchase

May the trades work with you.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out