CORN could be following the script of my analysis from a few weeks ago. After it’s big run-up from Jun-Aug it’s really spent the last quarter digesting it’s gains. Now all it needs is a “scary” sell-off down near the $44 level to wash out the weak hands completely and this should be ready to take off again.
When viewing the weekly chart below you can see it’s not a perfect cup/handle chart pattern but it’s obviously bullish and constructive and looks like this should be higher a few months from now that it is today. If you wanted to play it safe and wait for the weekly breakout you could go that route as well. You would then wait for the first weekly close above any previous bar and buy there.
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