Corn: I've done three things to the Daily Chart above; two directly and one indirectly. I've finessed the Bullish Channel I drew last time so that instead of the Oct 2016 and Jan 2016 highs being the determinants, the Oct 2016 and Feb 2017 highs along with the 14th of Sep 2016 low and Dec 2016 low have become the determinants. This gives a much fuller picture of the gradual ascent of this Bull market. The second thing is I've drawn a Bullish Schiff Pitchfork from the 14lh of Sep 2016, unusual as I would normally draw from the Aug 2016 low. However, I think this optimisation is a good & righteous move as it marries in with the Bullish Channel and also gives us new support from eth Centre Tine bisecting the Bullish Channel.
The final indirect thing is I've changed the bullet point above into full Bullish. I realise that we still have the Long MA heading down but the distance the market has travelled over the Long MA plus it being over all other MAs is also supportive of this action. Whilst writing of supportive actions, please note that on the Weekly Chart we have a Key Reversal Up. Hence, it this adds further justification. Support is currently at 370, 365 Yz (dynamic), 359 Vi, 355(dynamic), 354, 350 & 347(dynamic). Resistance is currently at 378 %, 380, 383, 384, & 386.
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