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TFC Commodity Trading Forum

Dec Corn/ Still Holding above the Breakout pt *PIC*

Dec Corn broke above the double top resistance pt at 720 and after yesterday's gap down and today's gap up the last 3 days have formed an Island Reversal which is very bullish. Regardless of anything price must run up from the breakout point to clear away all the shorts and weak dumb money buying this breakout to confirm the breakout was valid as in has done in the past. Then a return to the breakout pt would be the "TEST" point to buy again at this new support level of 720. This minor breakout doesn't mean much until price can run up and prove itself despite new contract highs.