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| thanks for the chart ...
looks like a wedge ... continuing the uptrend back to 2006 would seem to give more credence to breaking to the upside.
Considering dollar weakness and inflationary money printing, the upside seems probable. But destruction of our economy might allow some deflation without the big inflation that "should" be occurring. Politically, I can't see $2 corn in the cards (which is where a breakout to the downside points, as I see it), unless there is a conspiracy to take the farms and nationalize them or some such thang.
The apparent head and shoulders didn't seem to break to the downside, or if it did, it failed ... at least for now. (can never be too careful in hedging conclusive statements)
I can conclusively state this market will go higher, if it doesn't go lower ... or meander. :) If Moscow corn pops, and Iowa corn rots ... to the moon, Alice.
For today the uptrend seems to be digesting happy sellers pretty well ... some consolidation for a week and a move higher makes sense? Final caveat ... I'm no expert, and only have a little skin in the game. Charts are more interesting to me than baseball.
cheers ...
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Chart of the day
