CORN, the ETF tracking spot corn and corn futures has ended its down trend on
the 15 minute chart. The pivot is not a surprise given the issues related to wheat
in the Black Sea shipping with the Ukraine war escalating onto the sea and the
grain export deal falling apart. The Price Momentum Oscillator which might be
considered a leading indicator is showing bullish divergence.Volatility is steady
and without spikes. The bias here is for bullish momentum to more forward
with increasing amplitude given the fundamental geopolitical context.
I will buy CORN long and may enter a position on the futures markets.
the 15 minute chart. The pivot is not a surprise given the issues related to wheat
in the Black Sea shipping with the Ukraine war escalating onto the sea and the
grain export deal falling apart. The Price Momentum Oscillator which might be
considered a leading indicator is showing bullish divergence.Volatility is steady
and without spikes. The bias here is for bullish momentum to more forward
with increasing amplitude given the fundamental geopolitical context.
I will buy CORN long and may enter a position on the futures markets.
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