Corn ZC1! Back to the base pattern, oversold, plenty of upside
Corn looks like an oversold, buy candidate here. Corn was breaking out of its base earlier this year and formed a beautiful technical pattern that I caught using the symbol CORN (Teucrium Corn Fund). Corn made all of the news headlines in May when forecasts for drought were everywhere and the price had already run up 10%. Granted, corn has been a lot higher in recent years, but when a market can't push higher on cataclysmic forecasts, then it's time to get out.
Well, now we are back to the base and I don't hear many bulls or fear-mongers trumpeting about corn anymore. I like that it is oversold and near key support labeled with the green base support box.
Use a stop beyond the standard deviation bands because corn is whippy, especially at the turns. Use options to avoid getting your stop tripped right at the edges of the market bottom.
Cheers. Tim ZC1! 441'6 last UPside 489. Downside 423'0.
Well, now we are back to the base and I don't hear many bulls or fear-mongers trumpeting about corn anymore. I like that it is oversold and near key support labeled with the green base support box.
Use a stop beyond the standard deviation bands because corn is whippy, especially at the turns. Use options to avoid getting your stop tripped right at the edges of the market bottom.
Cheers. Tim ZC1! 441'6 last UPside 489. Downside 423'0.
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