Corn, bidding for a breakout, again

Discussion in 'Technical Analysis' started by countryBoy641, Jan 18, 2023.

  1. soybeans seem to be leading the AGs.
    I read a news letter recently, about beans.
    Gonna make diesel from soybeans. Wow.
    But corn is very important, fuel and food.
    I know there's a trader here is trying to short the AGs.
    PM me if you want.

    Corn_bid_breakout.jpg
     
    Mr.Richter likes this.
  2. If you're looking at the ZC futures and drawing your trendline a little bit steeper, you can see the breakout already. ;)
     
    M.W. and countryBoy641 like this.
  3. Yes, seems the futures ("commercials") are less squeamish about prices going up.
    They have to deal with it. It's their job.
    Traders (e.g. ET), not so much.
     
    Last edited: Jan 18, 2023
  4. easymon1

    easymon1

  5. Back when I was Series 7, I knew plenty of guys who would push stocks around, especially at the close.
    Candlesticks were either new idea (in a book),
    or they didn't exist at all, except in Japan.

    One daily candle does nothing for my decision making.
     
    murray t turtle likes this.
  6. easymon1

    easymon1

    That's Ok.
    Others may wonder what a doji samweech is and maybe pull some stats on em.
    Given your proclivity for Looooong term charts, not surprising tho.
     
    countryBoy641 likes this.
  7. %%
    I agree with one daily candle being noise much of the time;
    the few exceptions to that would include a big gap up above 200dma on SPY/12-13-22+ closed below 200dma , as it has most all bear,2022 year..........................................
    Commercial buyers in many markets dont really care about one unit;
    more like all acres ,truck loads, train loads , barge loads, generally speaking.
    NOT saying one customer is not important; every customer is important.:caution::caution: