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.
Weekly
3.644 last key resistance->support with price currently sitting on it.
Though below 20, +DI and ADX beginning to trend up. The TRIX near 0 but remains positive
Daily
In all 3 time frames, ADX and DMI are not that strong but positive. TRIX put in a sup->res line at 3.648. Price is currently spinning on this point and will be key to hold if price is to move higher from here.
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
Though below 20, +DI and ADX beginning to trend up. The TRIX near 0 but remains positive
Daily
Comment:
Corn looks like it's ready to rumble. 3 days left in week and if this closes it off above 3.755 then I think all the time frames are aligning to a serious up trend developing.
Comment:
Updated monthly chart with targets. The weekly close above 3.755 was sign that new highs will be made. Remainder of June and July could be an extremely bullish period.
