Corn has completed a HS type of pattern. The 400.0 resistance has been tested several times now and the probability of increasing selling pressure is high at this point. The price has to stay below the 1\1 bear Gann line.
Weekly:
- Tenkan/Kijun is in weak bullish cross
- Chikou Span likely makes a weak bullish cross too above Price candles.
- weekly HA candle is small body with lower and higher wicks, haDelta crossing back above SMA3
- last two weekly candles touched Kijun Sen, which prove to be good support
Most likely the pull back wave is over with this week's candle. It means...
(Forgive the terrible joke, but I couldn’t hold myself).
The 50% retracement on Corn suggests that a minor correction would be over making possible an “a-b-c” counting thus getting ready to resume the upward trend. However, at this point in time, it would be wise to keep an alternate count in sight as this correction could easily (and most likely, in my opinion)...
Looking at Ichimoku setup, agri products still have good chance to develop bullish trend further, especially if within next few days they continue the buy wave from current key levels.
Wheat: Price is above Kumo and Kijun Sen, Future Kumo points up. Price retested Kijun Sen and 530-534 key support two days ago, from there popped up again yesterday. If Chikou Span...
Corn has been bullish for some time. Back when I posted the second bullish chart, I wasn't so convinced about it, but now I'm pretty sure we'll see higher prices. The weekly chart remains bullish
On the daily chart, the histogram divergence called for a small correction. I believe the correction came to an end today, as the impulse is blue and there is a...
372 ideal entry - 372 3/4 last
Uptrend in place. Pullback to key "mode" support.
Upside to 394 target price in 6 days from 372 1/2 last.
Tight stop just under the 366 area.
Tim 1:07PM Tuesday, 11/18/2014
Corn chewed through the Big 370 resistance zone by going sideways and building a new 11-day platform from which to launch from.
This is what major bull moves are made of. Unfortunately, Corn expires this month, so I will re-start the analysis on the next active contract on corn.
For those of you who have followed this move up in corn from the bottom, this is...
Glaz & Chris Moody's GANN SWING trend hung in there on this uptrend and pushed through the 20-days of overhead supply at the 370 level like it was barely a threat. Normally it takes a few tries and more than a few days to push through an old level of resistance like that. The "Time at Mode" Box projected or allowed for a rally to the 375 level and it has made it...
Points are described on the chart.
1. Overbought CCI > 200 @ old 20-day supply level.
2. Long term downtrend was violated, so this may be just the exhaustion of the the first up leg into a natural resistance area.
3. Volume lately has been in "range expansion up days"
4. 9-day "time at mode" signal is still in effect (however)
Tim 10:10AM EST 10/28/2014
Corn has a very bullish chart. Corn is accumulating and building support that could lead to a catapult advance in the near future.
When the mode rises as it has continually from the low in October, then the stage is being set. The market has absorbed a few bearish inventory and harvesting reports and has rebounded each time.
Targeting $380-$400 on a...
ZCZ2014 must stay above 348 tomorrow, 10/17/2014, for a 6-day rally to confirm with this method.
Upside would measure to 376-377 from 352 last.
This is an early call on a market that is VASTLY different looking that the stock market.
Tim 10/16/2014 3:20PM EST 352'2 last
Today's range is above the 5-day mode, which sets up a rally for 4 more days. Today is day 1 of the 5-day anticipated rally. Today's range will be complete when corn closes in an hour. If the low is in for today then this is a buy signal.
Upside potential to 360 where there are 23 days of supply. That is the measured move as well.
Tim
1:25PM EST Tuesday,...
Let me share some more thoughts and more details about my view on Corn with you today.
Daily chart (left panel): As I wrote in my previous post, the positive MACD divergence finally pushed price higher, and that caused a succesful break of the short term bearish trendline. Price retested the Kumo and first important Key resistance at 345-350. Look how perfectly...
