So on the September 26 post, I described a scenario where I felt corn would grind higher out of an inverse head and shoulders bottom. I still believe this scenario is in play. I expect price to reach a level between 3.66 and 3.70, which is between the 38.2% fibanacci level and the 200 day moving average. This happens to coincide with the level where the inverse head and shoulders would need to trade to confirm as an H&S. When price reaches this area, I will recommend to price all 2016 corn. At that level, we will have all 2016 corn and soybeans priced.
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