We have an interesting setup here, with oil suddenly breaking up above weekly resistance, and outperforming precious metals, I think we might see a shift in positioning towards oil, and a few laggards that show an increase in commercial long positions for some time according to the commitment of traders report. I'm watching oats, rough rice, soybeans, corn and...
If Corn breaks above the August 19th high, it could be a good chance to enter longs risking a drop under yesterday's low. You can apply this idea to the front month futures, or to an ETF if trading stocks, remember to use the prices corresponding to these dates for your trade parameters. If not filled in the short term, this idea is invalid. Good luck! Ivan Labrie.
same idea as the wheat trade using a calendar to get long the corn curve
soybeans and many other ags have rallied after dumping on the crop report and is possibly making a trend reversal after months of bearish action. I'm looking to pick up a long on a healthy pullback.
corn at daily double bottom, long off this support level or short on a breakdown
Many signs of bullish, nice opportunity guys! In the other hand remember that if the bullish channel is broken this hypothesis is discarded. CBOT:ZC1!
Looking for bullish set up on 4hr chart to get long
Corn has broken and closed below it's wedge on a weeky time frame. We are looking for pullback triggers to get involved to the short side. Targets are identified and the stop will come from the trigger (on a 60 or 240 min chart)...NO TRIGGER, NO TRADE!
Corn on the weekly chart is coiling and setting up for a great move. As we always say ...if you want strong moves that will last longer than a day then you need to watch the weekly charts. It takes patience to wait but they are nice when they explode. Stay tuned.
Above 998 and the squeeze will have shorts scrambling. A close above this area and we will be looking for triggers long.
ZC has been sold off stronger than most commodities, and its weekly Stochastics is at an extreme low reading. Note how it together with weekly MACD are beginning to turn up. The daily chart including today's action illustrates this bottoming action more clearly, but I've profiled this weekly chart to point out how ZC is currently beneath a long term down channel...
ZC is starting to feel choppy in this area so we are taking off our long position at a small loss. Like we mentioned, this could chop until harvest starts. We will keep her on the watch list. NEXT!
Corn is working well. As an FYI this (ZC1!) is the continuous contract and is priced a little different than the DEC contract. However, the patterns are still the same and they are both working well. We are still long and looking for the gap fill (on continuous contract). We could see some sideways to down movement over the next few days before we start to...
And there she is! After the crop report the boys decided to give a little head fake and run the stops of the weak longs. Now if we get above the 362.2 we could see a nice squeeze would could pop us. We are long and will be holding for the gap fill. Understand we are not fools at OFT... we can read. We understand that the agency is calling for a record 14...
Corn has fallen to far to quickly. We are now back to the original buy areas. If you are still holding from the buy point this will be a good lesson. It is important to take some profits on the way and trail stops. We missed this trade but for some it was very profitable. If price jumps to our sell zone we will look for a short signal.