Heil Harvesting, Ulysses KS/Limon CO | Maybe I am missing something--in the '73 July corn chart I can see what looks like a weak key reversal to the upside, it was confirmed and up the market went. Best thing i see in that chart is an amazing example of a hammer bottom in late June.
The Dec. chart I see a key reversal in August, definitely confirmed to the down side. Also see two right in a row, counteracting each other--one down one up.
Back to the new crop, I would say we have confirmed the reversal--hopefully we find support in the 5.15/5.17 area, if not next support would probably be 5.05-5.10 area, if we get belo that it could be a wild ride. |
key reversal in corn? any thoughts
