NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Nov 1, 2014 08:27 AM CDT

Corn (Futures): The December contract closed at $3.76 3/4, 56cts higher for the month. The major (long-term) trend has turned up. October saw the December contract establish a new low of $3.18 1/4 before rallying above the September high of $3.67 1/2, establishing a bullish key reversal on the monthly chart. In conjunction with that, monthly stochastics established a secondary (confirming) bullish crossover below the oversold level of 20% but above the initial crossover from January 2014. With the forward curve in the market indicating bearish fundamentals, the newly established major uptrend could find resistance near $5.21, a price that ...

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