{"id":188606,"date":"2023-04-17T00:44:58","date_gmt":"2023-04-17T04:44:58","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=188606"},"modified":"2023-04-17T12:44:48","modified_gmt":"2023-04-17T16:44:48","slug":"corn-zc-testing-weekly-chart-triangle-resistance","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/technical-analysis\/corn-zc-testing-weekly-chart-triangle-resistance\/","title":{"rendered":"Corn (ZC) Testing Weekly Chart Triangle Resistance"},"content":{"rendered":"\n

Corn (ZC) Testing Weekly Chart Triangle Resistance<\/strong><\/p>\n\n\n\n

Corn (ZC) is testing symmetrical triangle resistance (on the weekly chart), with decent odds for reclaiming the 2023 high in April.\u00a0 Any break above ascending triangle resistance (on the 4hr chart) this week will dramatically reduce the likelihood of ZC sliding back before month end to triangle support (on the weekly chart).\u00a0 Nevertheless, the bigger picture is mixed, with ZC likely to remain within the 600-700 range the balance of April.\u00a0 Congratulations to Premium Members who benefited from the May 28, 2020 alert to ZC’s major bottoming effort<\/a> and again on Aug 24, 2020<\/a>.\u00a0 The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.\u00a0 I am looking to go long in the green zone (of the daily chart), targeting the red zone for Friday.\u00a0 The amber\/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).\u00a0 Click here for analysis on SOYBEAN, NATURAL GAS<\/strong><\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Source: Interactive Brokers TWS<\/p>\n","protected":false},"excerpt":{"rendered":"

Corn (ZC) is testing symmetrical triangle resistance (on the weekly chart), with decent odds for reclaiming the 2023 high in April. 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