Thursday, 1 March 2012

Corn (H12)

No position yest but this looks like a restest and possible failure of the black UMLP in this fork. It (price) may well have yet another third attempt to get over here and there is no doubt that until we see a LL to go short on a simple whimm would be like standing in the path of a train- stupid especially as price and trend has been strong but as i mentioned in last nights post itmay just be worth watching as we have seen no appraciable retracement for many days since the e/o Jan and if you take the whole trend since last Autumn. Simple charts shown here with one of the many odd smaller forks i use to guage reaction lines using the first HH before any retracement.

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