While Wheat managed to move higher, and actually gave a 4 Hrs time frame counter trend buy signal too, Corn has not been doing much. It is stuck in a very thin range, in between 352 - 361. Maybe the break will happen on back of USDA publishing crop data and export sales, maybe because of something else. We don't know. We don't know either in which direction the break will happen. If on the upside, then corrective tgt will be 390, if on the downside, then the selloff will continue down to 320.
and Slow are up, and loosing some power with lines converging slowly again, this rather points towards a short term move, but still it is hard to decide now, as the major trend is heavily .
So watch, and trade the breakout. Stop loss levels are obvious.
p.s.: If I have to chose I'd rather look for the Long entry only. As even in case of a worse data, going short here is not a very . It might end up in knee jerk reaction. So my strategy will be either buy the upper break, or just leave it.