Corn May Be Offering a Trading Opportunity With Its Cross Below Its 100 Moving Average

The Hourly View for Corn

  • Currently, C 1’s price is down $0 (0%) from the hour prior.
  • Corn has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Corn. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Corn’s hourly price chart is shown below.

C 1

The Daily View for Corn

  • At the time of this writing, C 1’s price is up $14.5 (2.61%) from the day prior.
  • This is the 2nd day in a row Corn has seen its price head up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between C 1’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in C 1’s price.

Below is a daily price chart of Corn.

C 1