Corn and Rate of Change Potential
Corn – 3mo Continuous: Comparing our current Bull market with the previous 4 major bull markets of the past 50 years. Previous price action on charts are often used for support and resistance. I like to look at rate of change during certain periods. Currently the 24 mo ROC is at 140% and compares to the 95-96 and the 11-12 rally’s. The previous all time high on corn was 8.43 in Aug 12’ and will act as resistance. If we look at potential price above 8.43, the ROC from 71-73 can be used to project potential up to the 9.50 area. If we use the 06-08 ROC that projects price up to 11.35.
**Disclosure** Do not take this as trading advice. The potential is there for 9.50 to 11.35 Corn, but anything could keep us from getting above today’s High.
**Disclosure** Do not take this as trading advice. The potential is there for 9.50 to 11.35 Corn, but anything could keep us from getting above today’s High.
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