11 April 2012

Corn : Short at 644

  • Catch up blog post. Am short ZCK2 at 644.
  • Weekly : SHS top formed Feb11-Sep11 = uptrend ended. Price action since then = (rectangular) range consolidation. Range top around 666, although 673.75 is the high (false upside break). Expect revisit of range bottom near 570, and if seriously lucky, a downtrend continuation thereafter. RR favors short.
  • Stop above 666.

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