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| Blu On the weekly, (very bearish) if you draw your support line under the isocoles triangle (the far right formation) support was broken long ago. Now use the measured move off of the triangle it looks like eventually (a year from next fall?) we should make a double bottom at the $3 area.......That weekly chart couldn't be much more bearish. Monthly? well when markets break, it first shows up in the daily, check, then the weekly, check, then the monthly (so far just bounced off of support).......so chart wise I see we are just plotting time before the corn market breaks the monthly chart breaks, just like the daily and weekly clearly have been broken. Will it happen in this crop cycle? I think most likely, but if this crop falls all the way down to 13 billion (a possibility with no rain and an early frost) it may have to wait until the next crop cycle 2014-2015.....FWIW.....JP | |
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Corn charts
