Corn has been forming a head and shoulders pattern since the start of June. We got close to breaking the pattern in the right shoulder ($4.59 was the price to beat and we got to $4.53). While we aren't in the total collapse phase of the market yet - we could start that at any time now.
Trade closed manually
(Didnt update this at the time but had some $16 put options on $CORN. Already in and out of those (I got out before the rebound in price). We hit some solid support - closing the idea.Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.