玉米 技術分析 - 玉米 交易: 2019-10-10

High demand bullish for corn price

US export sales were stronger than forecast while quality ratings declined last week. Will the corn price continue rising?

On the daily timeframe the CORN: D1 has been rising after closing above the 200-day moving average MA(200).

• The Parabolic indicator has formed a buy signal.
• The Donchian channel indicates uptrend: it is narrowing up.
• The MACD indicator gives a bullish signal: it is above the signal line and the gap is widening.
• The RSI oscillator is above 50 level and has not reached the overbought zone.

We expect the bullish momentum will resume after the price breaches above the upper Donchian bound at 401.5. A price above that level can be used as an entry point for a pending order to buy. The stop loss can be placed below the fractal low at 388.3. After placing the pending order, the stop loss is to be moved to the next fractal low, following Parabolic signals. By doing so, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (388.3) without reaching the order, we recommend canceling the order: the market sustains internal changes which were not taken into account.

Technical Analysis Summary