CBoT corn is a long play
Corn:
Price has traded up to our buy stop level after which it made a corrective move back down again. Price should not trade below the latest low of 346 as it will then likely trade further down to the 325 region which would be some 13% below the 375 buying stop zone which would be by far too much of a loss on the price. For now we consider this market to be a buy but we want to see price trade up to the 385 level next week. The upward potential on this chart is 25-30% from here.
Price has traded up to our buy stop level after which it made a corrective move back down again. Price should not trade below the latest low of 346 as it will then likely trade further down to the 325 region which would be some 13% below the 375 buying stop zone which would be by far too much of a loss on the price. For now we consider this market to be a buy but we want to see price trade up to the 385 level next week. The upward potential on this chart is 25-30% from here.
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