A couple different scenarios based off historical break of previous ATHs. Being citibank predicted 318k .... unprecedented money printing.... multibillion dollar corps buying.... leads me to think the corn blows past 318k. Maybe even outpace the 2013 bull run. I would not be surprised to see a market cap similar to gold..... at a 10 trillion cap, that would imply...
I'm honestly just not feeling this rally yet. I don't even want a breakout right now. I would prefer we reset all technicals at $42k before we make the next move up. To be clear about the green and red bubbles, those are in reference to the key of Bitcoin: DCA (dollar cost averaging) Red means wait to DCA later. Green means stack sats. SO.... HODL on comrades,...
Ascending channel in weekly chart is going to be broken soon, since RSI is 75, and RSI divergence has formed, technically we expect to see the price in lower levels soon but fundamentally it is still likely to go up to the end of march. But I doubt price goes up more than 600 since Argentina is going to terminate its export ban since the coming week and COVID-19...
Managed Money added about 30% to their position since early may, in ZCN0 contract most of that increase is under the 325 level, would take profit in the 335-340 zone if long.
IMO, we just gonna chop for a bit. Heading back to a macro trend though with 50k lining up to be the support/bounce. I'm sitting this one out for now. peaceeeeeeeeeee xo
I'm seriously not feeling this breakout. Looking for rejection at any of the lines on this chart, or a H&S reversal. I'm as bullish as they come about Bitcoin, I'm just expecting a 42k rebound before getting our faces melted off again. If you think this bull run is over, look at the BLX weekly chart and zoom WAYY out to see all time prices. This cycle is far from...
Order down at around 44700, it'll be a quick wick and bounce. We're still macro bullish imo. EZ monehhh
Strictly price action indicators. Bitcoin is in the midst of a full on bull cycle. Don't short BTC. Expect a more than likely touch of the 21 EMA, and a possible touch of the 50 EMA. Don't expect anything below $42k unless you are expecting a big correction. I don't think it needs one here. The most bullish outlook has Bitcoin retesting that upper trend line...
Corn seems to be in the final stage of a bullish run here. In terms of % gain, it is almost at the psychological 100% increase area from Mar'20 low. Short risk exposure is becoming more risky at these levels. With another push higher, some decent supply inflows are expected.
Don't look at me, talk to the chart, bro. The chart says what the chart says. I used fibonacci extensions to create this unquestionable chart.
CBOT:ZC1! In recent times most commodities have been heavily inflated. So when is it time to short these things on a macro scale? Well, if seasonality tells us anything, typically corn prices start to fall once we enter the month of June. There are 2 areas of supply on this chart, 1 of which we are already sitting in while the other is sitting at 627-680.
With prices for corn futures, wheat and soybeans on fire, the prospects for fertilizer companies like Nutrien have never been better. The stock trades at only 1.4x book value and pays a 3.5% dividend yield. Earnings surprises (like the prior two quarters) are likely to continue.
Pro: - Double top - bearish daily candle - change of overall sentiment on the market from bullish to bearish Cons: - against the trend this is not recomendation, just my opinion
On the daily time frame of CORN, there is a nice looking bearish rising wedge. It has been a quite a run and now it has gone up too quickly. RSI is reading extreme over bought. PPO is poised to make a bearish high level cross over. Also, when it falls back into the price channel, it will be very bearish as it will be a bull trap. I entered long $11.60 range so...
Corn has been on a rip lately. Today we have a nice pullback. If CORN cant hold the $15.79 level I expect to see somewhere around $15.00. Due to a confluence of support with the current upwards trendline, the horizontal support from the past and the 50 day simple moving average all being in the same area I will look to lean in off the bounce (if it happens).