CORN may go downPro:
- Double top
- bearish daily candle
- change of overall sentiment on the market from bullish to bearish
Cons:
- against the trend
this is not recomendation, just my opinion
CORN trade ideas
Bearish rising wedge on CORN after the extended runOn the daily time frame of CORN, there is a nice looking bearish rising wedge. It has been a quite a run and now it has gone up too quickly. RSI is reading extreme over bought. PPO is poised to make a bearish high level cross over. Also, when it falls back into the price channel, it will be very bearish as it will be a bull trap. I entered long $11.60 range so it's time to take profit and reversing to short. Long term bullish but short term bearish.
CORN Possible Long UnfoldingCorn has been on a rip lately. Today we have a nice pullback. If CORN cant hold the $15.79 level I expect to see somewhere around $15.00. Due to a confluence of support with the current upwards trendline, the horizontal support from the past and the 50 day simple moving average all being in the same area I will look to lean in off the bounce (if it happens).
CORN ETF and different ways to protect against inflationAsides from the metals, other commodities like corn and sugar are other great ways to protect against inflation. If you look at corn futures, they are beginning a breakout from previous resistance levels that were difficult to break, potentially leading to another parabolic move in the commodities sector. Because I already own alot of metals, this is definitely an interesting and appetizing way to diversify, but still have the same bottom line.
Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not consider your financial circumstances and objectives and may not be suitable for you.
Copyright Rohan Karunaratne 2021
Adding CORN to the Long Side Double bottom on CORN weekly, this is supported by the RSI bullish divergence signaling a reversal of the previous downtrend.
TEUCRIUM COMMODITY daily analysisHi friends
the daily analysis shows that it will experience with a high probability an uptrend but at the same time you have to be vigilant of the change towards the opposite direction
Grains in the Play - CORNCORN ETF is breaking out from the 160 days bottoming Consolidation Zone
The breakout is retested and after yesterday price action spiked up,
we can confirming the bottoming, and BULL is eyeing T1 and T2 at least. T3 Probably will take more time.
I don't like to put too much drawing in the chart. Please move your mouse to the Note area and see the reason and analysis.
CORN ETF is suitable for medium to longer term investment.
For more advance and savvy Trader, Corn Futures could be a better choice.
Before entering the Trade, the "Appropriate" Stop should be first Defined and then the Target.
STOP : 12.60
T1 : 14.00
T2 : 15.25
T3 : 16.50
Entry : 13.00 - 13.30 (At Open Today 1-Oct-2020)
Happy Trading
TraderWorkFlow
Expect Volatility In CornThis post is mostly just serving as an informative update for those who don't follow Wall St Bets, which is a huge reddit community where inexperienced retail traders talk about stocks - CORN has become a highly talked about name recently. Plenty of the names mentioned there become / are volatile and are subsequently talked about by the mainstream media like CNBC and Bloomberg. This post is just meant to be an explainer to those tracking corn if the commodity suddenly becomes more volatile. I always track what WSB is trading, as while they are often late to moves & trade things in the worst way possible, they are usually talking about the most volatile names in the market and so far corn hasn't moved much. Time will tell if anything comes of it.
CORN ETF 3 Possible Entries for LONG 11.60 but not looking very likely
9.20 ish S1
6.20 ish S2 VERY STRONG Support
Long CornSoft dollar policies pursued by the Fed will likely provide lift to commodities. Coffee has been a leading indicator, as futures contracts have appreciated roughly 40% since mid-October. Apart from monetary policy, technical indicators are also favoring upside with bullish RSI & MACD divergences. This trade has a longer duration than most, with a holding period that could last several months.
Long term possible price projectionIn the short term, we can wait for upside movement up to the Chanel-wedge line.
If the price broke this level and make a huge upside movement than we have the target area showed on the chart!
CORN LongCORN has broken out of a bullish descending wedge pattern to the upside, entered a bearish rising wedge, broken down and back-tested the previous resistance level before bouncing back. There are positive divergences on the charts which suggest a much longer up trend in play. These positive divergences can also be seen on the weekly and monthly charts of CORN which also firm up the thesis of a new long term uptrend. When measuring the height of the wedge pattern and adding it to the breakout point, the anticipated price coincides with a former support/resistance level.
$CORN So much for that double bottom theory from last week.Looks like we've got some lower prices coming in for corn.
$CORN double bottom, also needs to get above the top trend line.will be watching this over the next few weeks.
$CORN updated, will be watching, nice hammer candle on bottomLooks like CORN is at the lowest it's been in a while, worth watching down here.
Long the CORNKeep it simple stupid.
I will buy on breakout to the upside with volume. Or, more conservatively, wait for a retest after breakout.
Entry around $16.5. Resistance levels marked on the chart at $20, $23, $27, etc.
Why would I make this trade?
> CORN consolidating...CORNSOLIDATING!
> RSI Increasing
> Equity prices are falling across the board. See the DOW and S&P500.
> Commodity prices are rising as investors move into safer assets. See WEAT, Silver, and Gold.
> Corn is king. And used for food, packaging, and fuel.
What will happen as the world enters recession, instability, climate change, maybe war? Which assets will capital move into?
Rule yourself.
*This is not investment advice*
$CORN Consolidation for a possible move upConsolidation looks good here, but it needs to pop up above that strong trend line resistance.
CORN 1D BATSPlease see the comments on the chart:
In sum, I'm watching these indicators:
385 MA (greater than 2% above, breaking a multi year precedent)
Bullish movement this week
Calendar year performance (not negative?)
OBVOSC Higher Low
RSI Bullish Divergence
****Not covered here -- tariffs: 1st and 2nd order effects
corn knee high?$cornusd, $corn
seeing potential in corn.. looks a little late getting planted but the harvest should be good
200 day Moving Averge TD Daily 6 - solid entry possibilityKeep a eye hopefully we get opportunity this week.
