View On Corn (20 Jan 2021) While everyone is myopically focusing (including myself), soft commodities world have been "quietly" running up. And moving forward, I expect it go higher and higher as the "inflation" go up higher. So, it is better to adopt BUY (or) Wait/Buy approach. Remember CB (Central Banks) can prints money but they can't print food. Let's...
The BEARS are hanging around looking for snacks. Don't become a snack. I have buy orders inside the RISING WEDGE pattern, with a planned escape if the bounce doesn't clear the 21 DEMA -and would also confirm the potential for further SIGNIFICANT DOWNSIDE. BULLISH CASE: This could end up becoming a "W" pattern, short term reversal -long term CONTINUATION....
Double bottom on CORN weekly, this is supported by the RSI bullish divergence signaling a reversal of the previous downtrend.
If BTC can break out across the 0.5 Fib logarithmic curve resistance @ $36.6K (with volume), we could be looking at a $45K BTC in just a matter of days. Crazy, right? If PA is rejected at this resistance, I would expect a corrective move between $34.85K and $28.4K, with $31.525 the median target -followed by a retest of the resistance. Let's see how powerful...
Ending my posts of major themes to look for in 2021, I want to end with the agricultural commodities. Particularly Corn, Wheat and Soybeans. The agricultural commodities are some of my favorite assets to trade, and I do not think many people pay too much attention to them. I focus on the three mentioned above, but you can also trade sugar, coffee, cocoa, orange...
CBOT_MINI:XC1! Here is an example of a double bottom breakout trade of CORN I made in September. As you can see there was a nice confirmation of volume and also the fundamentals were in sync.
Would this not be fun if we had nice little cup and handle that ended in a new high support?!?!?
MM lines give an insight. Ignoring the noise, price currently in a rising wedge well planned in advance. Everything is planned.
Today we discuss how the grain markets weekly opening day closed and risk levels where our trades get invalidated
Corn continues to trade along the lower end of the trend channel. Both daily and weeklies are still on the uptrend but watch carefully as some of the momentum indicators continue to flatten. On the fundamental side, erratic weather patterns in South America and continuous large demand from the Chinese continue the bullish case for the corn and the grains...
ZC1! Commercial accounts are currently net short on corn futures contracts (-355k contracts), while as noncommercial accounts aka, Retail traders, are net long (+411k contracts). These two positions are at extreme polarized ends of the play. Usually commercials tend to be net short on any asset but its the extremes one should keep an eye on. Corn is currently...
What do you think is gonna happen here?!.. :-) (This is the monthly chart so this may take a while, nevertheless...)
$WEAT breaking out of long term downtrend, formed big base-double bottoms, now price finding support at $6.
CBOT:KE1! CBOT:ZW1! CBOT:ZC1! CBOT:ZS1! KE (Kansas City) Wheat - CBOT (World) Wheat These tend to be extremely reliable signals, indicating long term trends / changes, as Wheat itself has a relatively long (~7 year) cycle. (Wheat growing regions spreading from (north) pole to (south) pole.)
Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current levels for sell.