Hi TViewers,
CORN is continuing it's solid trend from it's break above the 3.40(ish) mark and is looking very strong.
As you can see on the chart it has pushed through it's previous minor resistance points at about 3.70 with excellent volume which would lead us to believe it will continue.
We could look to buy here if you weren't already long. Those looking for more assurance could look at the possible crossing of the 50/200 day SMA as entry point. This "Golden Cross" will be a big bullish signal and if it get's solid volume it will be another excellent sign for CORN.
This is not financial advise.
Please don't invest more than you can afford to lose.
Let me know your thoughts in the comments below.
CORN is continuing it's solid trend from it's break above the 3.40(ish) mark and is looking very strong.
As you can see on the chart it has pushed through it's previous minor resistance points at about 3.70 with excellent volume which would lead us to believe it will continue.
We could look to buy here if you weren't already long. Those looking for more assurance could look at the possible crossing of the 50/200 day SMA as entry point. This "Golden Cross" will be a big bullish signal and if it get's solid volume it will be another excellent sign for CORN.
This is not financial advise.
Please don't invest more than you can afford to lose.
Let me know your thoughts in the comments below.
Comment:
Very interesting point here for CORNUSD.
As we have just seen the "Golden Cross" (50 xing over the 200 SMA) we now seem to be seeing a little selling off. Nothing extraordinary. But interesting to watch what happens.
There are few options here (purely from an educational view);
We could sell some of our position in order to lock in profits assuming you are already long.
Or
We could wait until we get a strong green candle with decent volume and begin our long position.
If we weren't already holding I would think best to give it a day or 2 to make sure we don't see a big sell off. However unlikely, it is best to wait for absolute confirmation before making a play.
If we were already holding it wouldn't be too ill advised to hold our entire position until we see a reversal. Until the "Golden Cross" is undone we aren't looking like a reversal is too likely.
Enjoy the day friends,
John
As we have just seen the "Golden Cross" (50 xing over the 200 SMA) we now seem to be seeing a little selling off. Nothing extraordinary. But interesting to watch what happens.
There are few options here (purely from an educational view);
We could sell some of our position in order to lock in profits assuming you are already long.
Or
We could wait until we get a strong green candle with decent volume and begin our long position.
If we weren't already holding I would think best to give it a day or 2 to make sure we don't see a big sell off. However unlikely, it is best to wait for absolute confirmation before making a play.
If we were already holding it wouldn't be too ill advised to hold our entire position until we see a reversal. Until the "Golden Cross" is undone we aren't looking like a reversal is too likely.
Enjoy the day friends,
John
Comment:
A heads up on this one. (Pun Intended)
Corn is now hitting resistance at previous shoulders of H+S Pattern. We should wait to see if it pops through before entering a new long.
Just my 2 cents - for educational purposes only.
Cheers,
John
Corn is now hitting resistance at previous shoulders of H+S Pattern. We should wait to see if it pops through before entering a new long.
Just my 2 cents - for educational purposes only.
Cheers,
John
Please be aware I do hold CORN and CFDs can be an extremely high risk investment if you do not have an excellent Risk Management System.