Corn's Looming Upside
Nicholas Santiago | Nov 26, 2013 03:03PM ET
The commodity corn has taken a big hit in 2013. As it has plummeted, many have started to look for a potential bottom, an entry price to go long. It is looking more and more likely that bottom is at hand. Take a look at the weekly chart of Teucrium Corn Fund (CORN ). This is an ETF that tracks corn.
Looming Upside
Please note that four weeks ago a bottoming tail was put in, followed by another just last week. It is clear that this commodity is trying to put in a low and upside could be right around the corner. A long at the current $31.00 level appears attractive with downside limited and upside to $34.50 likely.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
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