According to the seasonal pattern (summer rally), Corn Future is on its move to higher ground also raising volatility along its move upward. This trend is supported by the commercials' net long position, which comes from the closing out of the short positions. OI is rather low, meaning that public is not the driving source behind the price movement. Option Trade...
$CORN has a confirmed long term uptrend here, we can enter longs risking a drop to 19.01, and aim for a big rally this year. Fundamentals imply a potential advance due to climate, plus, it's a really sound technical trade. Good luck, Ivan Labrie.
It's arguably a similar case to the former on wheat... Buying within the lowest decile in a decade, a very asymmetric return distribution, a potential break-out of the down trend.
We should enter longs in CORN at market open tomorrow, our risk is 85 cents down from our entry (whatever that is), so size your trade accordingly, risk 1% on the position, and aim for a 13.95% rally, to begin with. There's a possibility that this is a long lasting bottom in this commodity (and possibly many others), so don't miss out on the move. Good luck, Ivan Labrie.
Let's add to longs at market open, there's a chance a second 'Time at mode' signal confirms on close here. Move all stops to Sept. 12th's low, and open a 1% risk long, if we don't retest the new entry stop on close, we can expect a rally to 364'6 by or before October 25th. We should see a strong rally from here, and at least 3-4% more upside, before a pause in...
corn sell off has decelerated, and has been in bottom consolidation... can we get a upwards move soon?
corn at daily double bottom, long off this support level or short on a breakdown
May want to wait for the break below 348.
Something to think about...
Soybean has been a tough market for those traders seeking volatility as it has been on a “wait-and-see” mode for a couple of month now. I do not expect any major movement on the short/mid run; however, I do see a possibility to “widen” the current trading range. The wave counting above suggests that a B wave would be completed (or nearly completed) and a possible...