$CORN has a confirmed long term uptrend here, we can enter longs risking a drop to 19.01, and aim for a big rally this year. Fundamentals imply a potential advance due to climate, plus, it's a really sound technical trade.
Good luck,
Ivan Labrie.
Corn has short term head and shoulder pattern and also pretty important TL break.. i am long corn and wheat both. Will post detail analysis on weekend. Both corn and wheat might be nearing an important trend change.
We should enter longs in CORN at market open tomorrow, our risk is 85 cents down from our entry (whatever that is), so size your trade accordingly, risk 1% on the position, and aim for a 13.95% rally, to begin with.
There's a possibility that this is a long lasting bottom in this commodity (and possibly many others), so don't miss out on the move.
Good ...
Corn has been diving over the last 3 years since it's peak in 2012.
Beside small correction move in 2014, it was pretty much a nose dive that cut corn value in more than half.
Since October 2014, Corn has been bouncing around the 22-23$ support zone, which is also the 127 extension for the first part of corn's decline (Aug 2012- Jan 2014).
The second time ...
It is important that the trend is up. This reduces the risk of selling at a stop order.Therefore, you cannot open a short position at the upper boundary of the upward trend. This increases the risk that your position will close the stop order .
After breaking down two uptrend lines, $CORN is back the 25.5$ zone (now support).
The levels between 25.5$ and 25$ is support zone to monitor that comes with the 50% Fibonacci level.
Yesterday's strong selling could mean that the price will continue to dive to test the bottom of the trading zone. In that case, if we will see a reversal near the 50% level, a ...
The gold/corn ratio is undoubtedly one of the less heralded gold ratios, but commodities investors ought to listen to what this ratio is currently saying. The Gold/Corn Ratio is defined as the number of bushels of corn one could buy with the proceeds from selling one troy ounce of gold at a specific day’s settlement prices, according to Teucrium, the issuer of the ...
A bullish move after a 3 drive to a bottom looks possible here
Positive divergens on RSI hourly chart
Time well tell... as always
Safe trading Ladies & Gents!
@BLawrenceM
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