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Teucrium Corn Fund ETVTT

Teucrium Corn Fund ETV

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CORN trade ideas

Did we just hit the bottom? Corn has been diving over the last 3 years since it's peak in 2012. Beside small correction move in 2014, it was pretty much a nose dive that cut corn value in more than half. Since October 2014, Corn has been bouncing around the 22-23$ support zone, which is also the 127 extension for the first part of corn's decline (Aug 2012- Jan 2014). The second time corn bounced from the 22$ it also broke out of a minor weekly downtrend line. Last week, Corn spiked below 22$ and closed above it, creating a weekly false break and a weekly Outside Bar that could be a trigger for a bullish entry for those who seek to trade this bullish triple bottom setup. The bullish divergence we see in the RSI and the Stochastic being oversold can support this bullish scenario. With stop loss below 21.5$ the initial target level will be the 50 SMA line near 25$ (assuming it'll break above the Fast SMA line - the first confirmation signal) If the price will close above 25$, it could provide a longer term bullish signal for a deeper correction move in corn prices.
ALong
by themarketzone
Correction near the 50% Fib and inside a support zoneAfter breaking down two uptrend lines, $CORN is back the 25.5$ zone (now support). The levels between 25.5$ and 25$ is support zone to monitor that comes with the 50% Fibonacci level. Yesterday's strong selling could mean that the price will continue to dive to test the bottom of the trading zone. In that case, if we will see a reversal near the 50% level, a stop loss below the 61.8 Fib could be the right thing to do for those who want to try to jump back on the minor, new uptrend.
ALong
by themarketzone
TEUCRIUM CORN FUND CORN - BULLISH TRIANGLE BREAKOUTThis is the time of year when Corn can make a decent move. If you don't have a futures account, this is the way to play a move up in corn. The other ways are fertilizer stocks, seed companies and farm equipment stocks. However, it makes sense to track Corn futures directly. This fund holds a few different futures contracts so it is not completely sensitive to the moves in the front month contract. Bullish continuation pattern on the charts here in CORN. Upside for another 14 days from this 15-day pennant. Tim 2:30PM EST Thursday, 3/27/2014 33.94 last/ask. 33.75 bid/33.94 ask
ALong
by timwest
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