Its a good moment to buy corn, but prefer to wait to crosses the trendline. target: 480.0
The soybean tend to peak Mid-July And baced on soybeans pattern Short term longside looks possible Or sit on the side line looks best.
If Shark pattern is valid Bottoming action should similar to XAB That could be some idea
Corn looks like an oversold, buy candidate here. Corn was breaking out of its base earlier this year and formed a beautiful technical pattern that I caught using the symbol CORN (Teucrium Corn Fund). Corn made all of the news headlines in May when forecasts for drought were everywhere and the price had already run up 10%. Granted, corn has been a lot higher in...
Corn has fallen to far to quickly. We are now back to the original buy areas. If you are still holding from the buy point this will be a good lesson. It is important to take some profits on the way and trail stops. We missed this trade but for some it was very profitable. If price jumps to our sell zone we will look for a short signal.
Bean Oil (ZLQ14) is oversold in the medium and short term and could turn higher at this point. I'm entering long at 39.27 with target objective 41.87 (next resistance and median line) The target should be reached by 25June2014.
At the beginning of the 2008 while the sub prime crisis start to be feared by all the wheat touched peaked, since then until mid 2010 the price dis-inflated severely (lost around 65% at the time from the $1320’s to a very better $480’s the contract. But as the recovery geared traction from 2010 it reduced the lost of price more than half when made at end of 2012...
Corn Futures are nearing a potential turning point in coming weeks as technicals and seasonals align. Back in early May, Corn rejected major resistance around 520 and has since pulled back, completing a long cup, while our handle is forming with a retrace of 61.8% ($450) of the move from the lows around $400 early this year to the $520 highs. Although RSI is...
Grains are getting weaker but bean complex seems not giving up yet. Soybean meal contract (ZMN) is probably forming a top. Price bounced back for five consecutive days from 477.0 creating a nice floor. A trade below 477.0 will brake the support projecting price towards the next level and bear 1/2 Gann line. Not a seasonal trade but price are almost at historical...
Soybeans ZSN are forming a top. Typical seasonal peak is in June/July but this might be earlier. Chart pattern (M top) and RSI divergences are supportive. Targeting 1394.0 in one week time.
Looking back and finding patterns is always easy. The key is finding pattern at the right side of the chart. I posted a chart a few hours ago with what is happening right now in the wheat market. This chart is just proof that technical analysis works on wheat. The best patterns as you can see are classic technical analysis price formations like double tops and...
This is my first published chart with a custom indicator. Until now, all my charts had 3 manual plotted EMAs, making up a Wave. Now, thanks to user LazyBear, I have an indicator which plots all three of them, making it much easier to change their value. I will be using this indicator from now on. Thank you LazyBear for your great work! Wheat is currently standing...
Soybeans ZSN are forming a top. Typical season peak in in June/July but this might be earlier. Chart pattern and RSI divergences are supportive. Targeting 1429 in one week time. Fundamentals can be found in the USDA (US department of agriculture) reports: www.usda.gov
The beans are a bit long in the tooth. A topping pattern is playing out. We want to be short (small size) for a short term reversal.
I've been long for two weeks, and long term I still think corn px has good chance for a big rally, but we have arrived to first serious px resistence. I expect some pull back here, in line with correction of other agri products. However stay focused, as it seems corn have already pointed out its long term direction, so a pull back to Kijun or to the Kumo, might...
After some consolidation period, price broke out of the cloud on daily chart. Bears tried to get the control back twice last week, pushing price back from 450 critical resistence. However with friday's candle close, the trend reversal and daily bullish Kumo breakout strategy got confirmed: Chikou span (lagging line) broke out of the cloud too. So to sum it up:...
Rounding bottom completion hints further upside for corn price twitter.com thefxchannel.com