This corn chart has traded beautifully and has now printed its targets.
I would look to take profit on my longs and give the chart a few days to play out as I will only consider the correction over on a weekly close over $5.95.
We are very happy to be square until we have more confidence in our view and until then I am happy to live by the saying that one is only as good as your last trade.
I REMAIN really bullish in the “big picture” but, we could easily see this market come off and look to trade back sub $5.30.
The chart has printed the high target set at $5.80 and we are super happy and would now happily sit square.
The next trade on the list is to sell at best and all the way up to $5.94 with a stop over $5.96.
The downside targets will be sub $5.30 and hence this trade will have a 7/1 risk reward.
I REMAIN a proponent of BTD’s and take cash on the rallies until we confirm a bull market over $6.00!.
The chart looks great and steady as she goes even though we are lagging parity daily.
I would continue to take risk off the table the higher we go as a R200 – R300 pullback will be hard and fast and we do not want to be caught flat footed.
The big pullbacks are still decent buying opportunities.
The chart looks great and headed to the target area.
I would look to take some profits into strength as a pullback will be hard and fast and we would like the ability to buy back.
In short steady as she goes and don’t rock the boat!
Firstly, for all those that held and followed the road map, congratulations!
I hope you are all planning your Maldives holidays.
Now that we have given ourselves the biggest pat on the back, targets have almost been reached and we would take the cash and go square!
We have happy little piggy banks.
As with KC, great effort to hold and follow the road map!
Now is the time to take the money, sit back and enjoy our handy work as it does not often play out as well as this!
For those that held a little longer (we did not) and sold over $0.20 congratulations!
The market traded just short of its targets at $0.28 and the top seems to be in for now!
The kick to R6000 on the Dec contract is here and the chart could look to trade a little higher.
For those that bought the dip well done, but I would definitely look to take profits here and if I were a producer I would look to hedge my crop over R6000.
We made a mammoth profit on this long position and would like to congratulate you all.
This chart is now heading into overbought territory and we are happy to sit out for a few weeks.