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| july corn is creeping up on some support on the downside at around the 347-352 area and a bounce could definitely take place as we have sold off quickly this past week .
There is another pattern that has developed on the continuation charts and if it plays out would push sept down toward the 330-337 area before a bounce... only a break back over the 399 1/4 would invalidate this pattern . the daily chart shows a target of 359 to buy so there is a cluster of targets from 330-359 that would set up a buy..... the chart is below.
I think there will be a great opportunity to get long the corn market and the rest of the grains and its very possible that we have bottomed already......
as painful as it is for my farmer clients I would however like to see this pattern play out hitting the top part of the PRZ on the downside, a bounce, and then a push down to set up the long term buy to upside targets of 6+ corn.... we will see what happens.
until we take out some resistance areas I remain suspect of any kind of rally.....
for the record Im getting tired of being bearish ......
Edited by Mr Enigma 6/23/2017 07:23
 (corn setup sept continuation.png)
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 corn setup sept continuation.png (77KB - 88 downloads)
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july corn and a sept continuation chart
