Wyckoff Rates the Corn Market 1.0

July 11, 2014 09:03 AM

Pro Farmer Technical Analyst Jim Wyckoff says while corn bears have the strong overall near-term technical advantage, the psychology of traders is extremely bearish at present. That hints a near-term market low could be close at hand. Also, the market is still way short-term oversold and at least a corrective bounce is due very soon. Corn bulls' next upside price objective is to push and close prices above major technical resistance at $4.00. The next downside price breakout objective for the bears is pushing and closing prices below solid support at $3.85. First resistance for December corn is seen at $3.95 and then at $4.00. Wyckoff's Market Rating: 1.0


Learn more about how Wyckoff rates the market at this link.

Click here to subscribe to Wyckoff's Market Rating service.



Back to news


Spell Check

No comments have been posted to this News Article