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| I doubt anyone that looks at a corn chart very often will be surprised, but things are getting wound pretty tight for a breakout. We've traded inside of the gap from back on Dec 3 on 18 of 21 days in the month of January, and hit the 20 day moving average on 15 of 21 days (2 more were with a tick of hitting it). This thing has traded pretty tight, and the proverbial "spring" has a lot of pent up energy right now. Anyone able to measure how high we should bounce? Pretty flat on the top of the chart, and wedges tend to break out to the top side.
I'm expecting around 4.10-4.20 H, and a report a week from Friday would be a decent time to go hit it, especially if you believe the crop insurance pricing time period causes a rally.
January has been boring but February won't be. Have 5,000 bushels with intended delivery for February, basis set this morning.
 (ZCH19_Barchart_Interactive_Chart_01_31_2019 (1) (full).png)
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 ZCH19_Barchart_Interactive_Chart_01_31_2019 (1) (full).png (56KB - 82 downloads)
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The spring doesn't get much tighter.... corn chart attached
