Corn upside correction (LT Bear - ST Bull)

19 0 0
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.

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.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
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 Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out