Lots of demend for Corn in the weeks to come?This is Corn Futures Weekly chart.
This chart pattern usually predicts a very strong upward move!
It's an up-sloping pennant pattern while the Stoch RSI shows a down cycle. This suggests that price are experiencing an uptrend in what is supposedly a typical retracement.
Price has already bounced off the 20MA on the Daily chart , which means the better entry timing is missed. You can look to enter on a 4H time frame or just accept a lower risk to reward. I think it's fine to accept a lower risk to reward since this is based off a Weekly chart.
Be sure to watch the liquidty & contract period.
If you have any symbols that you would like me to analyze, feel free to drop me a comment!
Thanks!