July Corn is nearing the 20 day MA. This line will either be support or will be breached. We expect breach. Turn around expected at S2 as that will put RSI oversold and produce a Gartley pattern. We should see tonight what the corn people think of direction.
Comment:
Corn breached the 20 day MA significantly. Next target is breaching S1 at 382'6 and then S2 at 376'6
Comment:
Corn with faltering up move today. Still below 20 Day MA. Looking for move back down to S1 where there is significant support. If it can break that, S2 is target at 376'6. RSI still trending down.
Comment:
Corn looking bullish again. Needs to break and stay above Pivot at 392'2. Just above the 20 day MA.
Comment:
Corn looking like it might run to 408 at R2. Still has some RSI to for a run.