MARKETS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Fri Aug 23, 2013 03:03 PM CDT

As discussed in this week's On the Market column (Shoot the Moon), the December corn contract appears to be holding a bullish hand. Its weekly chart shows that the contract has the potential to rally, though gains could be limited by both commercial and noncommercial traders.

First, note the price pattern on the top chart from a week ago. Activity the week of December 12 saw the contract fall to a new low of $4.45 3/4, then rally well above the previous week's high of $4.65, before closing higher for the week. This established a key bullish reversal that coincided ...

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