This is a follow up on this forecast: Still bullish on Corn, after a surge up price retraced. At this moment Corn is still in that retrace, but expect the next leg up soon.
Gold rose ~15 points today and broke through the 6 and 8 day moving average. It also broke through the trend line starting back on election night, Nov 8. Price also failed to break below the mid line of the Bollinger Band. The next resistance level is at 1220 so let's see if Gold can move up and past it. Look at the Heikin Ashi chart below. 2 days ago there was a...
Anticipated "exhaustion" levels for the futures contract:- Short @ 2149.50; Stop: 12 ticks, Target: 36 ticks. Long @ 2125.50; Stop: 12 ticks, Target: 36 ticks.
As we see some support is coming in from our longer term trend channel as well as the lower Bbands. So far the last three weeks have provided with the expected sideways action once reaching 50. Selling calls has been the right strategy so far (51, 52 and 53 calls). At this support I am covering my short calls, but will hold of selling any put spreads to see how...