Both the measured Cup move & the measure bullish flag move targets 976.
Russian invasion may escalate & further worsen the commodity crisis like wheat, corn, fertilizer & metals
like palladium, uranium & platinum.
Not trading advice
Final Big move to the upside before a possible correction, Using Elliot wave methodology and other indicators a strong move to the upside to complete trade cycle is to be expected.
Corn is trading inside a bullish flag on Daily/Weekly charts. I'm looking for either a breakout or buy from the bottom of the flag (in case we see a bounce here rather than a breakout).
Targets at 800 and 880.
Invalidation - breakout below the flag structure.
The same view on CORN as on WHEAT chart, we have a nice bullish market strucutre but looks like price is very exhausted and right now we should see a corrective movement down ito 700/600, we have a lot of bullish gaps on it's way and price should retrace to fill those.
On a long-term perspective i am still bullish based on the fundamental context.
What do you...
I made trend lines in area I found the most respect on the 4hour. And went into those respect areas and made trendlines the the 1min showed the most respected also to make it accurate as possible. Then I fitted a inside pitchfork and also a trendbase fib. The top trendline is a breakthrough 10% line to see if it hood value in the future.
