CORN SEEMS TO LIKE THE 420 AREA AS SUPPORT, BUT FOR HOW LONG?
BEGINNING FROM LAST JUNE CORN HAS BEEN FREE FALLING, AND THESE LAST WEEKS WE ARE SEEING CONSOLIDATION AROUND 420-435 AREA.
- THE BREAKOUT ON 4 DEC. TO THE UPSIDE SEEMS TO BE A NONVALID ONE,
- WE MAY ALSO BE SEEING A HEAD&SHOULDERS PATTERN ON THE DAILY GRAPH.
A POSSIBLE BREAKDOWN OF 420 AREA MEANS GOING SHORT THE CORN AGAIN.
OTHERWISE WE HAVE TO SEE THAT IT CAN SUCCEED TO CLOSE ABOVE THE 50 EMA TO SHOW UPSIDE STRENGTH.
PLEASE ALSO NOTE THAT CORN RECENTLY USED 420 AREA AS SUPPORT FOR 3 TIMES AND SEEMS TO GOING THE SAME LEVELS ONCE MORE, WILL THAT LINE HOLD? WE'LL SEE...
- THE BREAKOUT ON 4 DEC. TO THE UPSIDE SEEMS TO BE A NONVALID ONE,
- WE MAY ALSO BE SEEING A HEAD&SHOULDERS PATTERN ON THE DAILY GRAPH.
A POSSIBLE BREAKDOWN OF 420 AREA MEANS GOING SHORT THE CORN AGAIN.
OTHERWISE WE HAVE TO SEE THAT IT CAN SUCCEED TO CLOSE ABOVE THE 50 EMA TO SHOW UPSIDE STRENGTH.
PLEASE ALSO NOTE THAT CORN RECENTLY USED 420 AREA AS SUPPORT FOR 3 TIMES AND SEEMS TO GOING THE SAME LEVELS ONCE MORE, WILL THAT LINE HOLD? WE'LL SEE...