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TFC Commodity Trading Forum

Re: C o r n Warning!/g
In Response To: C o r n Warning! ()

Hi g,
Thanks for the thoughts !!
What do you see the 7.06 price to represent ??
I can see it as a S/R level on the daily chart. Some might suggest that 720 is also ??

Markets do what they do !! But I cannot fathom what traders might be thinking in the face of all the bullish data (I avoided the word news) here.
I have been wary of Corn price action since the last tag of 788/9 yesterday.

Price now down to 768 and still going !!!
That seems like a lot of "profit taking" ....

Maybe the "unwinding" of more complex positions ?? All things considered I would expect more pressure to move the market upwart.

Thanks, Lee