Corn Price Bias Is Still Bullish | IFCM
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Corn Price Bias Is Still Bullish

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The #C-CORN price forecast in our August 18, 2020 technical analysis was bullish.

  • Market developments after #C-CORN,Daily August 18, 2020 technical analysis still indicate bullish bias.
  1. #C-CORN,Daily closed 0.4% higher on August 21.
  2. Advisory service Pro Farmer projected US corn harvest will be below the US Department of Agriculture’s forecasts.

Here is what indicators show as of August 24, 2020:

  • The Parabolic Indicator gives a bullish signal.
  • The Donchian channel indicates uptrend: it is narrowing up.
  • The MACD indicator gives a bullish signal.
  • The RSI oscillator gives a neutral signal.
  • The Fractals give a bullish signal.
  • The MA(200) Indicator gives a bearish signal.

So the bullish forecast still stands for the #C-CORN,Daily.

OrderBUY
Buy stopAbove 343.1
Stop lossBelow 316.7

Reuters August 24, 2020 report.

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