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TFC Commodity Trading Forum

Re: Corn/Long Term Chart/Lee/Trades

Hi Trades,
Thanks !!!

BUTTT, I guess I'm a little confused.

What do you mean by this:
"But the price chart is just plain ugly and needs work."

I can see that the July low for a support is close at hand - about 577 by my eyes.

Then March about 548 and Nov is down quite a bit around 480 as you have them marked on the chart.

Then the RSI21 comment ..... suggests a bounce is near ....

So if I understand correctly you are suggesting that the support around 577 should hold, with a bounce following AND IF that does not hold as support, the next supports are the 548 and 480 levels ????

I'm not trying to put "words in your mouth", just trying to make sure I understood you !!!!

But I don't understand the "ugly comment" !!!!

On Friday gap down on 10.30 ET re-open === It does not show on my "daily chart" which starts at midnight !!!!
- That total bar is what gave rise to the "limit" comment. Maybe the clock for the limits starts at 10.30am Eastern ???? No clue how the CME does it's books on that one !!!! A puzzle for another day !!!

Beyond trying to learn something, I wouldn't touch any of these grains right now. I can see any one, or all of them, turning and going "limit up" at a blink of an eye !!!!

All of the markets are a bit nutsy right now to my thinking .... Look at Dx, Gold Thursday night/Friday following the discussion we had.

Beats me !!!????

Thanks, Lee