Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Corn has been practically neutral on 1W (RSI = 54.490, ADX = 23.173), trading sideways since mid July. With the price currently testing the inner 374'2 Resistance, we consider it to be high enough for a short towards the 0.618 1D Fibonacci = 356'6.
Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy. Don’t take a trade if you don’t see clearly when big guys are in.
Looks like a possible long setup for the short term, but beware of nearby resistance. Wait for confirmation. Like this idea if you agree. Follow me for more tips like this.
Corn futures ZC1 have touched the 50% Fibonacci level on three occasions and failed each time. Looking for a reversal to the uptrend
Why Wheat and why now. What about Soybeans and Corn. Looking across the Ags, it seems that Wheat is enjoying the most upside. Why is this. In keeping with my focus on the DMI and ADX, I think you’d have start by looking at the monthly chart of the 3. One of the key tenants of DMI/ADX is that best trades seem to originate when the ADX is below 20 for an...
The TP = 372.20 has been hit and the 1D Channel Down (RSI = 37.956, Highs/Lows = -0.2679, B/BP = -1.4820) continues to deploy on a standard manner. Next TP = 337.20 which is the November 13, 2017 bottom and a very likely candidate for a rebound. If it breaks then 320.40 is next.
After breaking the 1D Channel Up (Highs/Lows = -12.9821, MACD = -1.170), Corn just bounced off the first important support at 380. We will either see a strong rebound here (long with tight SL, TP = 392.40) or if 379 breaks, it will look for the 372.20 support (TP = 374).
My horizontal support line and upper bound of the July Channel is being broken as I write this - not surprised and was expecting at least a wick below it. W What I wasnt expecting is such low volume on this break. I think most of the community is somewhat surprised by the lack of volume, but maybe people are getting smarter. This means lower lows are to be...
Hi TViewers, CORN is continuing it's solid trend from it's break above the 3.40(ish) mark and is looking very strong. As you can see on the chart it has pushed through it's previous minor resistance points at about 3.70 with excellent volume which would lead us to believe it will continue. We could look to buy here if you weren't already long. Those looking...
Corn is currently retesting a strong S/R level dating back to 2004. If it holds this will be an excellent long term high R/R long trade setup.
It must be thanksgiving and Christmas because CORN has been looking ready to pop for some weeks now. December/January is a typical bullish swing for CORN. I expect price to move up into the 3.68 level in the coming week or two. Beyond that will be hard to say. There is some strong Bearish market structure lurking around. Note: All ideas expressed here are...
Corn has been decelerating for quite a few months now and is currently rejecting key resistance (monthly 200ema/200ma + monthly fibs) with a high-test. Price action seems to be hinting at a turn from here in the near future down to $302.00, the September '09 low that sent us into an enormous rally to form the '12 highest high. I'm watching for a rejection of...
The monthly cornusd chart looks like it is setting up a base for a new uptrend to begin. October '15 new resistance->support line at 3.502. Price has closed and held above this line for past 4 months. +DI up and ADX is rising though still below 0 TRIX divergin with price since 2014 with 3 points of focus Stoch coming off oversold and moving up Weekly...
Seasonally, June/July worst months of the year though