Hopium target Dec 2021 - $355k
This cycle is mirroring the 2016-17 run pretty eerily.
If peak to peak is measured (1640 ish bars) we could hit this target EOY.
** Be mindful and greedy if chart decides to try and connect with the 21 weekly EMA, which it did time and time again in the prior bull market.** No one wants to think about it but it makes sense from a TA perspective. RSI is overcooked and the market usually tests this area of historical support. This would be between 23 and 26k depending on timing (average moving up steeply each week).
So much could happen to make this target way to high, and also way too low.
This year will be fun trading regardless. Bull market is here and has held up well despite stock market sell offs. The corn seems to be in a league of its own.
Happy trading.
If peak to peak is measured (1640 ish bars) we could hit this target EOY.
** Be mindful and greedy if chart decides to try and connect with the 21 weekly EMA, which it did time and time again in the prior bull market.** No one wants to think about it but it makes sense from a TA perspective. RSI is overcooked and the market usually tests this area of historical support. This would be between 23 and 26k depending on timing (average moving up steeply each week).
So much could happen to make this target way to high, and also way too low.
This year will be fun trading regardless. Bull market is here and has held up well despite stock market sell offs. The corn seems to be in a league of its own.
Happy trading.
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