{"id":104796,"date":"2017-04-14T08:16:23","date_gmt":"2017-04-14T12:16:23","guid":{"rendered":"http:\/\/countingpips.com\/?p=104796"},"modified":"2017-04-14T06:16:53","modified_gmt":"2017-04-14T10:16:53","slug":"corn-technical-analysis-wet-weather-supports-corn-prices","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/04\/corn-technical-analysis-wet-weather-supports-corn-prices\/","title":{"rendered":"CORN: Technical Analysis &#8211; Wet weather supports corn prices"},"content":{"rendered":"<div id=\"inves-941787290\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 14, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\">IFCMarkets<\/a><\/p>\n<p><strong>Wet weather supports corn prices<\/strong><\/p>\n<p><a href=\"https:\/\/www.ifcmarkets.com\/en\/market-data\/corn\"> Corn prices <\/a> advance as rains delay sowing in Midwest. Will the price of corn continue rising?<\/p>\n<p>Rains are causing delays to early sowings of corn in the Midwest, which is bullish for corn prices. Wet weather is expected in the next two weeks also, though delays from mid-May, which is the mid-point of planting, will be more harmful. At the same time weakening of the dollar is another bullish factor for corn prices as cheaper dollar makes corn more affordable for users of other currencies.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/www.ifcmarkets.com\/uploads\/images\/Corn_R14April2017.png\" alt=\"CORN\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily timeframe <b>CORN:D1 <\/b> had been trading with negative bias after hitting ten-month high in early February. The price has risen above the 50-day and 200-day moving averages MA(50) and MA(200).<\/p>\n<ul class=\"emailSummary\">\n<li>The <b>Donchian channel <\/b> indicates an uptrend: it is tilted up.<\/li>\n<li>The <b>Parabolic indicator <\/b> gives a buy signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\">MACD indicator<\/a> is above the signal line and the gap is rising, which is a bullish signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\">stochastic oscillator<\/a> has crossed into the overbought zone, which is a bearish signal.<\/li>\n<\/ul>\n<p>We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 376.3. It can be used as an entry point and a pending order to buy can be placed above that level. The stop loss can be placed below the last fractal low at 362.4. After placing the pending order the stop loss is to be moved every day following Parabolic signals. Thus, we are changing the probable profit\/loss ratio to the breakeven point. If the price meets the stop loss level (362.4) without reaching the order (376.3), we recommend cancelling the position: the market sustains internal changes which were not taken into account.<\/p><div id=\"inves-2529847659\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Technical Analysis Summary<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Buy<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Buy stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 376.3<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 362.4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Wet weather supports corn prices Corn prices advance as rains delay sowing in Midwest. Will the price of corn continue rising? Rains are causing delays to early sowings of corn in the Midwest, which is bullish for corn prices. Wet weather is expected in the next two weeks also, though delays from mid-May, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-104796","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/104796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=104796"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/104796\/revisions"}],"predecessor-version":[{"id":104801,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/104796\/revisions\/104801"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=104796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=104796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=104796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}