Corn, Uptrend
Each evening we focus on the most interesting aspects for the upcoming trading day. The comments are based on observations of the nightly updates of the Futures and Market Bias pages. They are provided for educational purposes only and are not intended to be direct trading advice. Also, keep in mind that these remarks are made up to 12 hours in advance of the markets opening. Therefore, overnight events may alter the outcome of these observations.
December Corn [CZ9>CZ9], on the Pullbacks From Highs List, closed well (a) and appears poised to continue its uptrend. Look for a buying opportunity here.
Source: Omega Research.
For you breakout players, the September D-mark [DMU9>DMU9] and Swiss Franc [SFU9>SFU9] closed well and appear poised to resume their strong uptrends. Look for buying opportunities here, especially if the dollar continues its slide.
October Lean Hogs [LHV9>LHV9], on the Pullbacks Off Highs List, have formed a shallow pullback and appear poised to resume their recent rally. Look for a buying opportunity here.
Best of luck with your trading on Friday!
Dave Landry
PS-Reminder: Protective stops on every trade!