Corn (ZC) At Long-Term Support

24 Sep 2014

ZC has been sold off stronger than most commodities, and its weekly Stochastics is at an extreme low reading. Note how it together with weekly MACD are beginning to turn up. The daily chart including today's action illustrates this bottoming action more clearly, but I've profiled this weekly chart to point out how ZC is currently beneath a long term down channel support line, which I don't expect to persist for long with ZC trading at an important support zone. Although the weekly RSI appears to still turn down, keep in mind the lag introduced by weekly chart signals. Visit goo.gl/NTXHtX for today's technical analysis on NG_F, ZC_F, USDJPY, VIX_F, NQ_F, NFLX, TSLA, ES_F, USDX, EURUSD, EURCHF, CT_F

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