Okay yesterday we 2/22/24 we elected some day bearish, so removed initial long for small loss. Now, we are getting to the 3rd weekly bearish reversal at 18.80 and went back in long. Will see how this plays out, but already seeing buyers. Stops are present and risk is low.
Below is Day Chart of Corn… 18.80 put in a limit to catch it, but did not get it, so raised to 18.83.
Weekly Chart Below
Weekly we made a new low, but next week we have empirical. My thoughts are we hold this area and go back above last weeks low to fake out everyone.
Arrays shown this week was an Aggregate without an empirical. Next week is Aggregate and Empirical for possible turning point.
UPDATE: 2/28/24 – So far so good
So far so good bounce exactly of 18.80 in CORN ETF.
Will be holding this position, took 25% off from some shares, but leaving rest on right now. Still have some worry above with the dark red monthly bear. March is turning point, so nothing certain yet, but with War and NY supply issue this could keep and upmove — will see.
