Recommendation for Corn : Buy
Buy Stop : Above 385.4
Stop Loss : Below 363.4
| Indicator | Value | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On the daily timeframe #C-CORN: Daily is rising above the 200-day moving average MA(200), which is falling still. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 385.4. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 363.4. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (363.4) without reaching the order (385.4) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis
US corn stocks fell more than expected in three months. Will the corn price continue rising?