Corn is Building Energy for a Move
Before I walk my dog Marley, I will share what I see on the Corn chart.
Corn is consolidating above a rising 50-day moving Average, building energy for a move higher.
The rising 50-day moving average suggests the trend is turning up on the Daily chart.
A break above the Anchored Volume-weighted Average Price from the 2023.11.30 contract switch turns us Bullish.
Until then, we sit and wait.
Like Canadians, of which I am one.
Our next level of interest is 460-465 on the way to 496.
Will we see you there?
Trent Klarenbach, BSA AgEc, publishes the Klarenbach Grain Report and the Klarenbach Special Crops Report.
Klarenbach Research
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On the date of publication, Trent Klarenbach did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
