May 6, 2020
By IFCMarkets
Possible cold spell bullish for corn price
US Northern Plains, Great Lakes, Ohio Valley and the Northeast are expected to be dominated by cold air front today as a high-pressure system moves away, according to a US Farm Report. And the northern Corn Belt area could see even colder air at the end of the week. The cold front could pose a risk to newly planted corn fields. A possible freeze/frost damage to planted crops is bullish for corn price.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Buy | |
| MACD | Buy | |
| Donchian Channel | Neutral | |
| MA(100) | Sell | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 321.7 |
| Stop loss | Below 308.9 |
Market Analysis provided by IFCMarkets
