I would like to share with you this commodity which has tanked more than 50% since 2012!
It’s none other than “The Corn Commodity”.
The Weekly Corn Commodity Trading Chart:
On Weekly price made a high at $8.5 and traded to a low of $3.5 within a span of 2 years.
We can see the price having a tendency of consolidating for a few weeks before breaking lower. And it seems to be behaving that way right now.
The Daily Corn Commodity Trading Chart:
On daily price has been rejected $3.7 twice and is definitely a level to pay attention to.
You can look for shorts should the price trade back up again.
Its a accumulation. Also you dont have to count the higher tails – only the bodys are important to see if it has build a higher high. And when you dont see the volume, you will get surprised with a Spring if you are unlucky. Its my opinion. And i have to say, i only trade forex. I have no idea about commodities 🙂 But i would be happy if you can do a tutorial for forex traders, how we can trade commodities and what is important for it. Cya 🙂