Corn and Rate of Change Potential

Corn – 3mo Continuous: Comparing our current Bull market with the previous 4 major bull markets of the past 50 years. Previous price action on charts are often used for support and resistance. I like to look at rate of change during certain periods. Currently the 24 mo ROC is at 140% and compares to the 95-96 and the 11-12 rally’s. The previous all time high on corn was 8.43 in Aug 12’ and will act as resistance. If we look at potential price above 8.43, the ROC from 71-73 can be used to project potential up to the 9.50 area. If we use the 06-08 ROC that projects price up to 11.35.
**Disclosure** Do not take this as trading advice. The potential is there for 9.50 to 11.35 Corn, but anything could keep us from getting above today’s High.
Chart PatternsCORNTechnical IndicatorsTrend AnalysisCorn

Related publications

Disclaimer