Wednesday, August 5, 2015

Corn consolidating


Sep Corn is consolidating around the 78.6% Fibonacci level, and previous consolidation from May/June. The big question is whether it bounces (which is what this trade is counting on) or continues the down trend. The very low stochastics suggest a possible bounce.

If we do get a bounce, we need it to bounce soon before the options expire 8/21/15 2:15pm ET.

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