The CORN (corn ETN) swing trade has just hit the first & sole price target (T1) for a quick (1 week) 7% profit. Consider booking profits and/or raising stops if holding out for additional gains. While the odds for a reaction here are elevated, the next potential targets are 25.88 & 27.22/trendline backtest should we continue to get more upside in the coming weeks. Previous & updated daily charts of CORN below.
CORN daily July 21st
CORN daily July 28th
/ZC (corn futures) has also rallied into the 621 1/2 price target/resistance with a small rising wedge pattern & negative divergences forming. Potential pullback target zone, should we get a reaction here, shown on the 60-minute chart below.
ZC 60m July 28th