Corn - It will remain very bullish, but needs a pull back first
I think the long waited strategic trend reversal has started to happen in Corn, but short term it has become extremely overboght. Probably we'll see a pull back to 400 support, before it starts another leg up to 500+.
Weekly:
- Long term bearish trendline is broken. Price is above 100 weeks WMA! Ichimoku setup is close to a bullish breakout. We also have a bullish Senkou Span cross (Kumo twist). This shows the long term sentiment is changing to bullish again.
- Heikin Ashi is firm bullish, with extremely strong momentum. However haDelta has reached an extremely high level, and Price is around current Kumo top, so there is some chance we see a pull back from here to Kijun support, before the Bull really startes running towards 500 or maybe even to 600!
Daily:
- Simply bullish both in terms of Ichimoku and Heikin Ashi, but haDelta has some negative divergence, and Price also got far away from Kijun Sen, and Senkou B line, so it should pull back a bit towards 390-400 equilibrium, before Bulls gain new power.
Weekly:
- Long term bearish trendline is broken. Price is above 100 weeks WMA! Ichimoku setup is close to a bullish breakout. We also have a bullish Senkou Span cross (Kumo twist). This shows the long term sentiment is changing to bullish again.
- Heikin Ashi is firm bullish, with extremely strong momentum. However haDelta has reached an extremely high level, and Price is around current Kumo top, so there is some chance we see a pull back from here to Kijun support, before the Bull really startes running towards 500 or maybe even to 600!
Daily:
- Simply bullish both in terms of Ichimoku and Heikin Ashi, but haDelta has some negative divergence, and Price also got far away from Kijun Sen, and Senkou B line, so it should pull back a bit towards 390-400 equilibrium, before Bulls gain new power.
