CORN:
Date: 21 October, 2016
D1 Chart: Short-term long. Opportunity for a reverse of the price tendency
The price has made a third higher bottom and is in short-term trend for now. After that it broke trough above the horizontal resistance at 350.00 and now makes a retest at this level. Price is above 50 EMA
Alternative scenario: If the price breaks trough again downwards below the previous bottom below 336.00 and below the diagonal support, this will break the bearish scenario
Technical indicator:
RSI (14): close to level 80
rice entry for long around : 348.00
SL: 336.00
Jr. Trader - S.Fuchedzhiev
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.