Corn Long. Today, after yesterday’s successful execution of the analysis for the rise of corn, CA continues in its original assumption. The market broke through the magic resistance and closed over it, which from a technical point of view is a very strong motivation for the next development. Analysts continue to follow Monday’s published report.
An analysis of the rise in the price of corn, also published last week and published with a beautiful profit, is another in a series of successful Trend Following strategies. At first glance, the market appears to be significantly overbought by CA analysts, who continue to publish long analyzes. The full potential of this market is certainly not exhausted.
The maize market is maintaining a net upward trend. For many, the analysis of the rise in price looking at the chart of the last 2-3 years may seem crazy, but an experienced investor, an analyst looks at more complex data. Looking at the longer history, we can see that the price of the corn contract on the CBOT was at much higher levels. Due to the growing problems in growing areas with Covid19, we may encounter new levels of trade next year.
Charts and table sources: WebTrader, Barchart