Tuesday, March 3, 2020

ZC May Corn Futures Bullish Reversal Update 1

I changed my target to the 50% Fib at 382.

I noticed the 50% level is exactly at the bottom of a consolidation period of several weeks. Its also near the 20sma which price has respected in the past.

However, there's a lot of room left in the stochastics. So, I moved in the target but I expect a rejection off that level. The plan is to watch that dip and get back in long when the dip turns up.

See chart on previous post.


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