Strategy, Tactics, Focus

Just over two-years ago, was this post, targeting CORN to bottom-out around the 16-level:

“However, shown on the chart is a potential low at the Fibonacci 76.4%, retrace.”

On June 30th, CORN hit an intraday low of 16.36, before reversing sharply to the upside.

Teucrium CORN, Weekly

As the chart shows, we’re in an apparent Wyckoff ‘spring’ condition; price action rising sharply after penetrating support (not advice, not a recommendation).

What we don’t have, is the ‘test’; there’s no way to say if there will be one.

However, the chart shows this coming week, is Fibonacci Week-5, from the lows.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279