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Re: Corn #2/Trades/Lee
In Response To: Re: Corn #2/Trades/Lee/Trades ()

So, now if Corn is now in a "down trend" my next thought might be "what has to happen to put it back in an up trend" ??
Answer: Breaking above overhead price resistance of 640 which was the 2nd support level that failed with the selloff (which was indicated by the #6 breakdown) this new breakout over price resistance of 640 puts it back at least into a short term uptrend again BUTTTTTTTT each resistance level must be respected as resistance which may or may not hold AND the breakout over 640 still must hold above to keep the new uptrend alive. Only a breakout above 672 would confirm the new uptrend had legs. A breakdown back below 640 would suggest this was a dead cat bounce that failed and the downtrend would continue again. The Stochastic indicator showed the oversold condition at 640 with added support from the Fib38.2% retrace point.

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Re: Corn #2/Trades/Lee