December ’15 Corn

The technical pattern looks interesting. Looking at the last 10-15 days in isolation the price action looks very much like a reverse head and shoulders pattern.
Support at $4.00 held and given the recent USDA plantings outlook and positive report news, the market appears poised to test the 4.40 – 4.50 area if resistance is taken out. With other indicators showing room for the market to advance it appears Dec. Corn above the 40 day moving average would invite some additional buying interest.

For additional information and risk parameters please contact Mitch LaRocca @ 972-387-0080 or mitch@dallascommodity.com

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