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Ok chart guys.
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Posted 2/7/2019 17:28 (#7304308 - in reply to #7304128)
Subject: RE: Ok chart guys.

A chart isn't really intended to predict the next day. Just helps you frame the market and help you see where price has violated some support or resistance or trendline or wedge whatever. This is Dec Corn. What it is saying is that for the past couple months it doesn't want to make new highs or new lows...thus the wedge...its undecided or biding time. It also says that a break outside the wedge either way should be watched very closely and when confirmed that is the likely new trend of price. After that watch for a new trend or reversal etc. All i can really get from this chart is that "it is decision time".

Edit: I had some forks drawn on this chart but took them off so its easier to see the wedge and "indecision". The forks frame the bigger picture but JC's question was about tomorrow. Also, I am a novice even though I've been dabbling in it for 2 decades so i'm not predicting anything just telling you what i see and hope someone else where confirm or deny my thoughts so i can learn.

Edited by mojave 2/7/2019 17:37

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