It seems like a bearish flag pattern, which is building up in the Corn futures. So this could result in another short-term bearish impulse.
According to the seasonality charts we have at the end of Sep/Oct (depends on which charts you take into consideration) a seasonal low. According to the CME, it's not expected before Nov/Dec (New Crop months).
My personal long-term view on the agriculture commodities is of course very bullish - but we can go still one level lower over the next months ...
According to the seasonality charts we have at the end of Sep/Oct (depends on which charts you take into consideration) a seasonal low. According to the CME, it's not expected before Nov/Dec (New Crop months).
My personal long-term view on the agriculture commodities is of course very bullish - but we can go still one level lower over the next months ...
Comentário:
The first level of support has been reached. 518 USX should hold. Otherwise, we're going to see 467 USX soon ...