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Friday, 22 January 2016 10:35

Does the Corn pops in the short term?

After a pullback to test the descending 60 days ema, we might expect a decrease of March 2016 Corn Futures in the short term.

Volume Spread Analysis

Yesterday ended with a pseudo upthrust with high volumes, which represents a possible reversal setup.

corn futures pseudo upthrust pullback trading for purpose


Market Profile

Analyzing the Market Profile chart (which we set at 30 minutes for a period of 20 days, in addition of the 'Daily 1year'), we notice the 'point of control' level around 358 and the unfilled area between 358 and 365 that don't provide symmetry to the bell-shaped curve.

corn futures market profile pullback trading for purpose

We can probably expect a short period retracement, with a target set between 355 and 359.
Remember: this is not a trade solicitation and, if you decide to trade, you do it at your own responsibility.

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