Corn – Not sure I Like This Set-Up …..

corn updated

On March 4, I posted a piece about Corn and said that it would rally to a point D. Well, it did rally, but it fell short of my projected D point.

Not good.

Corn had a violent spasm today and puked off hard to the tune of 20 cents.

The embedded image in this post shows a new Gartley pattern that I am watching. However, this pattern is already looking shaky because for it to be valid, point D really should come in lower than B, but point D should not go below X. This means that Corn has to stop falling and hold at $6.78. With heliocentric Mercury due to change signs in the next couple days (moves into Libra) there is a chance $6.78 could hold firm. But, if $6.78 fails to hold, stand aside because Corn will be in trouble…

 

 

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