Posted 2/8/2019 00:04 (#7305331 - in reply to #7304128) Subject: RE: Ok chart guys.
Heart of Ohio
Like others have said, report days can be wild for awhile, lots of algo trading happens for the first hour after report. I'm more interested in how it reacts and settles the day/week than the numbers themselves. Corn is coiled tight, looks to be due for a bust out. IMHO chart suggests trade and close below 3.70ish or above 3.80ish will be key for the next few weeks, next hurdle up is 3.90ish too, so .... take your pick. This chart shows gap end of November @ 3.6675 to 3.6950 it's a continuous roll gap only I think so, not much stock in it, however, could be the lower end target if it breaks lower. Stochs oversold MACD neutral. History has taught me if price violates either Bolinger Band in a significant way (say .03 or more) odds are higher we go the other way for awhile next week. The weekly chart has BB bands @ 3.868 and 3.58, MA 100 & 200 day both near 3.65. My cash flow needs are met for awhile but, I like Yogis' suggestion, I'll be taking a few cookies .10 to .14 higher tomorrow if offered. This is the farmer side of me, trader me, has similar but different plans.