This is my first time playing with screenr and I’m going to talk about corn prices.
It looks to me, from all of my meager experience, that corn prices are building to go higher. I haven’t been looking at the weather or the fundamentals, I’ve only been looking at the technical indicators by reviewing the price charts.
If I go into the weekly charts, it’s looks like it’s been lolling around and not really doing much when looking at the weekly view, but when I go to the daily chart, we can see that we had a gap move out of this bounce over here – increased volume in trading when prices are rising, reduced volume when prices are retracing.
When I go back to the monthly chart, this could now be the long term bottom forever in corn prices. (sips coffee) This looks like it’s building a triangle formation – a very large fight in the market – it’s hit a bottom here, it’s hit a bottom here and prices have been tightening up.
It looks to me like corn prices are going up, this is Aug 2 2010, and as prices move above this level I think they are going to surge higher for a while. and if I do the 50% rule… they are going to move up to this area over the next little while.
We’ll see what goes on on Futures-Trading-Primer.com I’m going to be looking for your input and your comments here – and if there is enough interest, I’ll create a forum so we can talk about the agriculturals, including the seasonal trading methods and start clearing up some details on when to buy and sell these commodities.
No related posts.
