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Re: May Corn/Bouncing Off Support/Norma/Lee

Yes most likely shorts getting squeezed. I don't get into all the numbers with that or c.o.t. or open interest/volume etc. Too much hanky panky for me to figure out. I just go by the chart and technicals. As long as price stays above 640 the next resistance pt to attack with price is 672. Price is now trapped between the two. And there is not a lot of resistance at 672. So 'if' price can clear 672 there is a gap just above to fill which makes the rally easier to run up and then you'd have a likely run to a double top. But 1st things 1st. 640 still has to hold on the close going forward and 672 is resistance to deal with. If price can hold above 640 that will prove the rally over resistance wasn't just short covering and suggest higher prices. That's all I see here.

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Re: May Corn/Bouncing Off Support/Norma/Lee