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Frequent Contributor

Not sure what oats knows..

But it sure appears that corn -in addition to beans-is attempting an upturn. 

May corn put in a bottom of 414-4 on Jan 10 and is now playing tag with 465-2. If it goes above this (465-2) it could be considered a buy, with a Median first leg up target of 5.25.

 

Here is an observation with a suggestion. Is it on topic?

Someone else pull out the crystal ball and tea leaves and take a reading.

 

 

 

 

4 Replies
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Veteran Advisor

Re: Not sure what oats knows..

it does appear to me, as well. so if it is a "first leg up", as you say - let us examine!

 

if C began a bullish impulse - the first of 5 waves is now complete. call it a leading diagonal.

#1 = 150 cents -- a reasonable pullback #2 = 435

#3 in grains - typically = 1.25 X #1 = 150 X 1.25 = 188...$4.35 +188 cents = 623 - whoa! they were thinkin' i needed a straight jacket 6 weeks ago talking these prices, kyjlong.

 

but, but, we are not finished with the impulse

 

#4 - lets say - after filling weekly gap it needs to correct back to bottom of gap at $5.50 - about 38%

 

#5 legs in grains typically are the longest = 1.618X #1 or #3 - lets say it's only #1 = 150 cents X 1.618 = 243 cents + $5.50 = go ahead, lock me up. Smiley Wink hey hey now - the commercial $$ can't hide...

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Advisor

Re: Not sure what oats knows..

Holy Smokes cx. They will be comin for ya. I see the math but can't see the catalyst. Late cold spring maybe I dunno.planting delays never really produce a huge rally. Radiation plume from Fushima???
Okay can you put some time to these impulses especially the next two.
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Frequent Contributor

Re: Not sure what oats knows..

c-x-1, Obviously you are more fluent than I, but I was not considering the first wave complete at this point and looking at 520+ to be considered the first leg up. However using a shorter time period I can see the 5 waves you were using. But then this morning's bounce would be another wave, thus I am confused with attempting to measure out your waves. Not a big thing to me, I'm still learning. 

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Veteran Advisor

Re: Not sure what oats knows..

...just reeling out the math projection if i understood kyjilong correctly -- maybe i didn't..........................it's academic, and obviously we would need a pretty forceful CAT-alyst to reel out that 5th leg extensionSmiley Happy

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