Corn Starting to Grow
- Posted by Greg Harmon
- on February 19th, 2014
Corn ($ZC_F, $CORN) was all the rage in the commodity trading space just a year ago. Reaching prices near $8.50 per bushel in mid 2012, a year later it fell precipitously from $7.30 to $4.50, the current level where it has been loitering for 7 months. But on a closer look it is building a rounded bottom and making 4 month highs. It may be time to buy some corn. The next resistance level higher is about $5.00 to $5.10 per bushel, also where the falling 200 day Simple Moving Average (SMA) sits. That is 13% higher, sure beats knee high by the Fourth of July.
Get my book, Trading Options: Using Technical Analysis to Design Winning Options Trades from Amazon.
Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through January 2014 Expiry and sign up here for the free 7 day trial before you pay.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Impressed by Cypress
- Premium Earnings 8-31-16: Salesforce and Ciena
- Take it to the Bank
- Premium Earnings 8-30-16: H&R Block and Bob Evans
- Rising Equities and Bonds, Like Dogs and Cats Living Together
- Seeking Fortune in Fortune Brands
- Premium Earnings 8-29-16: Abercrombie & Fitch and DSW
- Top Trade Ideas for the Week August 29, 2016: Bonus Idea
- Top Trade Ideas for the Week of August 29, 2016: The Rest
- Top Trade Ideas for the Week of August 29, 2016: The Rest Premium