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Central Missouri | Just fyi ( and I have no bias just read what I see)
http://www.agrichartsmobile.com/markets/chart.php?symbol=CZ0&compar...
The macd touched yesterday. So if corn is headed higher it better defend the macd and move higher from here. If it is headed lower it will close below yesterdays lows. It could try to fill the gap on yesterdays day chart and if it fails it will give one of the most reliable macd signals of all.
Here is the night session included ....
http://www.agrichartsmobile.com/markets/chart.php?symbol=ZCZ0&compa...
Watch this closely as it has crossed lower. We are beginning a 13 billion bushel harvest with another billion in the bin. That is alot of hedge pressure along with a seasonal that says we should go lower into October. Time is always way more important than price as the black boxes don't care whether corn has a 3, 4, 5, or whatever number you choose in front of it. All they care is that if the box says buy they buy and if it says sell they sell.
A close below yesterdays low will confirm a macd cross lower. Higher trade will negate it. | |
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Corn macd
