While corn prices were spiking higher, we were busy covering the price movements and providing technical updates. As you can see from the chart below (and prior updates), Corn prices spiked into a weekly DeMark sell setup 9, leading to a reaction lower that saw follow through.
In my last update, I focused on the 7.40 fibonacci retracement level as a magnet to watch, and possible level for prices to bounce from.
More charts found here.
Corn price chart as of September 21, 2012. Corn technical chart with Fibonacci retracements and technical support levels. Corn Demark weekly sell setup 9..
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