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TFC Commodity Trading Forum

Re: Corn *PIC*
In Response To: Re: Corn ()

Hmm...the last low, even though price probed below 37.5 back in the early part of May, was really the 37.5.

Price on this last little pop made high of 37.5...essentially and however sloppy it appears, was a test of the May low at 37.5...and...it hit the downtrend line and turned into a red candle day.

Price in general is below the mighty 1x1...red downtrend lines.

I would prefer to see more of a building of a base to show upage.

Y'all hang on...it's 4:30am...you know what that means? It's nectar of the gods time. It's my favorite time of the morning...the time that puts a good start to the day...
Coffee!!!! Hang on, I'll be right back. 😁

Back...ahhh! Cup-o-joe.

That price managed to hold above the 360 is good. It could even be argued that price had passed out of the first circle of 360 degrees and 105 degree into the second reaching
465...then it came back for a test of the 360 to see if there is enough energy there to maintain price into the second circle at +360.

Ingenerall it's in a downtrend with no real break of any of the downtrend lines that matter, indicating weakness.

Price maintaining +360 is solid so long as it manages to stay above....but still needs indication that the recent downtrend is over.

Thistarott reading is worth exactly what you paid for it. 😂