December 22' Corn
December 22 Corn - Weekly: From 2014-2020 Corn traded within a more definable market structure, 3.00-4.50(ish). During this time I would run previous years High to Low retracements on new crop contracts and place initial targets at retracements under 100% and hope to fill targets up to 127%. We are currently in the beginning stages of developing a new market structure where upside potential and downside risk is unmeasurable. So far we filled the 5.63 (141%) target, and close to the Primary target at 5.78.
The 5.50 area is tough Support/Resistance as the most volume has occurred at this price. Support is 5.14. Risk is 4.80-4.62
The 5.50 area is tough Support/Resistance as the most volume has occurred at this price. Support is 5.14. Risk is 4.80-4.62
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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.