Corn Is Forming A Great Potential Reversal [Teucrium Corn Fund]

The large red sell candle of June 30th set in motion another liquidation or sell-short breakdown trade.

Price collapsed from $30.00 to the $25.00 per share level where we’re planning another potential “Rounded Reversal with Divergences” price pattern.

Rounded Reversal #3 (In Motion)

This time, we are seeing initial strength from the break above the falling 20 day EMA above $26.50.

Follow the chart to monitor additional upside action through “open air” which simply targets the falling 50 day EMA near $28.00 per share.

A firm breakthrough above $28.00 per share opens another bullish price pathway toward $30.00.

Otherwise, any re-break under the “arc” trendline (like June 30th) sets up another liquidation move – as would a trigger-break to new lows under $25.50.

This article is brought to you courtesy of Corey Rosenbloom from Afraid to Trade.

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