Corn futures have just tested the 425' level - an important price point standing on the convergence of the extended algo line formed previously during this year.
The volume of the rally was above average, which might be hinting at the buyers not being ready to show up, at least for now.
A short position with a stop loss slightly above the algo line can be a solid play.
The volume of the rally was above average, which might be hinting at the buyers not being ready to show up, at least for now.
A short position with a stop loss slightly above the algo line can be a solid play.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.