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Corn Price Bias Is Still Bullish
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.
- #C-CORN,Daily closed 0.4% higher on August 21.
- 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.
Order | BUY |
Buy stop | Above 343.1 |
Stop loss | Below 316.7 |
Reuters August 24, 2020 report.
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