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.
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...
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:...
Corn has found multiple supports (20EMA - median line - 1/1 bear Gann). Next move up is towards tu upper parallel. One week time. Weekly chart also supports the bull case. 2/1 Risk Raward.
BEGINNING FROM LAST JUNE CORN HAS BEEN FREE FALLING, AND THESE LAST WEEKS WE ARE SEEING CONSOLIDATION AROUND 420-435 AREA.
- THE BREAKOUT ON 4 DEC. TO THE UPSIDE SEEMS TO BE A NONVALID ONE,
- WE MAY ALSO BE SEEING A HEAD&SHOULDERS PATTERN ON THE DAILY GRAPH.
A POSSIBLE BREAKDOWN OF 420 AREA MEANS GOING SHORT THE CORN AGAIN.
OTHERWISE WE HAVE TO SEE THAT IT CAN...
THE SECRET CORN CYCLUS
quite simple:
-primary wave up, secondary wave up = high up pressure
-primary wave down, secondary wave down = high pressure down
( ....so, we just finished high pressure down)
I'm re-entering my long corn position where I have left it one week ago. Corn could be bottoming here. I'm targeting 452.0 (T1) and depending on reaction at that level my second target is 460.0 (T2). The corn market is in a seasonal period of strength. The monthly chart is showing significant support.
The latest USDA reports and estimates are showing some interesting values. Everybody is expecting a very good Corn production. Last year they were expecting a very bad one, but from then the price lost more than 50%. So I will not be surprised to see a lower production than estimated right now.
From the technical point of view, the price got to a key level...
This chart was easier to make than expected once i had the weekly done it is more or less a copy with a couple more fans added. After closer examination, corn prices appears to be moving from the different fan angles to the lines created by the clones. These lines resemble limbs of a tree and act as highways for price movement much like the limbs of a tree act as...
After doing some research and seeing some close up images of actual charts by Gann, I got the idea of doing this chart. We have a Gann Fan then I cloned the 1x1 initial channel. As can be seen in the chart these channel clones continue to have influence on corn prices as support and resistance. Gann was cloning this very channel on his charts to forecast pricing....
