Investing.com - Financial Markets Worldwide

Trade Alert

Published 02/23/2011, 08:57 AM
Updated 07/09/2023, 06:31 AM

Buy May corn (either 2 minis or 1 regular).  Buy 705 1/4 stop.  Protective stop 680 1/2.  Potential projection 750.

Reasons for the Trade:
1.  On the monthly chart corn has not formed a key reversal top.
2.  The weekly chart has a previous buy signal that is still intact.
3.  On the weekly chart the current wave up has not met projections.

4.  On the weekly chart, corn sold off into the 650 support area and held.
4.  The daily chart formed a key reversal bottom today.
5.  On the daily chart corn rallied back over the 20 day ma and closed above it.
6.  On the daily chart corn held in the 650 support area.

Buy May mini beans (1 or 2).  Buy 1335 stop.  Protective stop 1296.  Potential projection 1415.

Reasons for the Trade:
1.  On both the monthly and weekly chart beans held at the 1300 support.
2.  On the weekly it closed back over the 20 day ma.
3.  On the daily chart, beans closed back over the 100 day ma.
4.  On the daily chart, beans held the 1300 support.
5.  On the daily chart, beans formed a key reversal bottom today.

Buy March dollar index.  Buy 77.760 stop.  Protective stop 76.950.  Potential projection 79.500.

1. On the monthly chart, sell-offs have held to the uptrend line formed since the early 2008 low.

2. The monthly also formed a major key reversal bottom four months ago that is still intact.

3. The weekly continues to hold in previous support.

4.  The weekly has broken out of the downtrend formed since the June high and suggests that it is setting up for a second wave up.

5.  On the daily it suggests that it is trying to set up for a second wave up.  The recent sell-off could be a test of the contract low (77.000) that is holding. 

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.