{"id":138863,"date":"2018-12-14T10:45:44","date_gmt":"2018-12-14T15:45:44","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=138863"},"modified":"2018-12-14T06:55:54","modified_gmt":"2018-12-14T11:55:54","slug":"corn-analysis-technical-setup-bullish-for-corn-prices","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/12\/corn-analysis-technical-setup-bullish-for-corn-prices\/","title":{"rendered":"CORN Analysis: Technical setup bullish for corn prices"},"content":{"rendered":"<div id=\"inves-2629346625\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 14, 2018<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/strong><\/p>\n<p><strong>Technical setup bullish for corn prices<\/strong><\/p>\n<blockquote><p>Corn technical indicators point to bullish tilt. Will <a href=\"https:\/\/www.ifcmarkets.com\/en\/market-data\/corn\">corn prices<\/a> continue the rebound?<\/p><\/blockquote>\n<p>The recent US Department of Agriculture (USDA) WASDE report indicated marginally higher 2018\/19 world crop production forecast. Experts however mention a likely lowering of US corn yield estimate in January 11 USDA production forecast. And USDA data show world feed grain stocks, measured by the number of days\u2019 supply excluding China, are falling following lower crops in Europe and Australia. Prices are rising in the last five days with indicators supporting continued bullish momentum.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/ifccd.net\/uploads\/image\/Corn_O_14Dec2018.png\" alt=\"CORN price rising above MA(50) 12\/14\/2018 Technical Analysis IFC Markets chart\" width=\"660px\" \/><\/p>\n<p class=\"ul-tick\">On the daily timeframe <b>CORN: D1 <\/b> had been retracing after hitting five-month low in mid-September. The price is above the 50-day moving average MA(50).<\/p>\n<ul class=\"ul-tick\">\n<li>The <b>Donchian channel <\/b> is tilted up indicating uptrend.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/parabolic\">Parabolic indicator<\/a> has formed 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 narrowing, which is bearish.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\"> stochastic oscillator <\/a> is falling but has not reached the oversold zone.<\/li>\n<\/ul>\n<p>We believe the bullish momentum will continue after the price closes above the upper boundary of Donchian channel at 388.3. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below last fractal low at 379.9. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit\/loss ratio to the breakeven point. If the price meets the stop loss level (379.9) without reaching the order (388.3), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.<\/p>\n<h2 class=\"ul-tick\" 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 388.3<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 379.9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/p><div id=\"inves-1144968599\" 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","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Technical setup bullish for corn prices Corn technical indicators point to bullish tilt. Will corn prices continue the rebound? The recent US Department of Agriculture (USDA) WASDE report indicated marginally higher 2018\/19 world crop production forecast. Experts however mention a likely lowering of US corn yield estimate in January 11 USDA production forecast. [&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-138863","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/138863","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=138863"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/138863\/revisions"}],"predecessor-version":[{"id":138882,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/138863\/revisions\/138882"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=138863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=138863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=138863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}