Corn's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
Weeks ago I warned subscribers and readers not to underestimate corn. I do not remind you of this statement as a means of pounding my chest. This is a professional game that makes everyone, even those using professional trading discipline such as the Evolution of the Trade, look bad. Play corn by the numbers, and by that, I mean follow the cycles.
Every asset breathes within the primary trend. A pause or profit-taking point is coming, so how do we recognize it? Use the Matrix. You're not subscribing because I'm an excellent writer (not even close), or a skilled speaker or video creator. You subscribe to follow the cycles across the three time frames. A pause will come when the daily and weekly cycles show extreme extension. Look for red numbers in Daily and Weekly BuS and BuST columns. I watch them daily. Extreme daily BuS and/or BuST will slow the rally.
Extreme bearish energy builds, a Corn DI well below -60%, will also slow the rally. They're called blocking domes.
Reversals and geometric price targets also represent profit-taking zones. Use the Reversal tab in the Matrix. It tracks the Corn ETN ($CORN). The Corn ETN is not the continuous contract, but reversals zones for it generally translate into reversal zones in the continuous contract. I posted the weekly CORN reversal chart for subscribers below. Watch price slam on the break when it reaches these overhead reversals (resistance).
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