Tuesday, August 23, 2011

$CORN - Bearish Rising Wedge Pattern

CORN has had a good bull run and out performed a lot of stocks recently. This bull run could be coming to end. A rising wedge pattern with confirming decreasing volume is developing. Also a triple top seems to be forming as well. These factors combined seem to indicate that CORN 's pricing is inflated and poised to fall soon. Look to short 2% or so below the bottom wedge line. Look to cover close to the technical target.

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