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| Corn has been in a sideways range for almost 2 years now between 3.00 and 4.50. Right now its dead in the middle of the range. 4.50 will be very stiff Resistance. However when 4.50 does break there should be a quick move to 6.00 when it happens (I get that by taking the the 2 year consolidation of 4.50 -3.00=1.50...4.50+1.50=6.00)...either later this year or 2 years from now. I think its cool how the range now is exactly how the range was before the big runup in 2008. Gotta love charts. Hard to say which way it goes. However since the bean and wheat chart are clearly bullish I am leaning for a test of "at least" 4.50 in the next couple months.... | |
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Continuous corn chart
