- Initially shorted this from 662 down on basis of daily bear flag formation.
- Since then, the weekly has also developed a bearish outlook. Now forming an uneven right shoulder. Proportions not quite right (unlike the EUR/USD), right shoulder a bit small, but a valid SHS top nonetheless. This has some serious downside potential, staring down the abyss.
- Monthly huge double top.
- Am sure firmer USD has much to do with this, in addition to corn fundamentals (of which I know nothing about).
3 comments:
"Lagi" = Malay word for "yet"
http://www.asiasentinel.com/index.php?option=com_content&task=view&id=3986&Itemid=224
Corn Fundamental is very Bullish. Ending Stocks/Usage ratio is at 6.8%, the second lowest in -- history. Corn stocks remain tight well into Spring. Current sell off lack of volume.
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