CBoT corn still no green light for a long play
Corn:
Price basically has been moving sideways during the past 9 sessions although it made a fierce spike to the downside during yesterday's sessions after which price recovered back to its level of apparent comfort of the past 2 weeks. We are anticipating a solid bottom for price and have done so for some weeks now but we currently still feel uncertain to call for same bottom. We want to have one more week of 'wait-and-see' attitude on this one after which we will try to establish a renewed judgement. It could be that we will have to conclude and call for a bottom during the coming trading week in which case we will come with an update.
Price basically has been moving sideways during the past 9 sessions although it made a fierce spike to the downside during yesterday's sessions after which price recovered back to its level of apparent comfort of the past 2 weeks. We are anticipating a solid bottom for price and have done so for some weeks now but we currently still feel uncertain to call for same bottom. We want to have one more week of 'wait-and-see' attitude on this one after which we will try to establish a renewed judgement. It could be that we will have to conclude and call for a bottom during the coming trading week in which case we will come with an update.
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