Anyone interesting in taking a bite of a V-shape $CORN?
I’m game for it.
Take a look at the weekly chart below:
$CORN broke out of last week high and I bought in a decent size position for a possible V-shape bounce.
I like to see $CORN hit the target of $43 in the near future soon; otherwise, it won’t be called V-shape.
Below daily chart shows a decent breakout of the last 5 trading days.
Fundamentally speaking, Dry Weather and Abandoned Land Help Bolster Corn ETF.
The caveat of trading agriculture commodity is that its price action is subjected to extreme volatility due to weather condition. On the other hand, price can stay on trend due to persistent fundamental reason.
My 2 cents.Comments »