We look to Corn to provide direction in the barley and wheat market.
Corn, as every asset behaves, often consolidates sideways, correcting through time, not price.
Sideways consolidation, or “Sideways F$$%ery” as we call it, is a time to sit and wait.
We consider this a “No-Trade Zone”, as discussed in our previous Corn report.
The sideways consolidation is consistent with Stage 1: Accumulation or Stage 3: Distribution.
Only time will tell us if the price moves higher into Stage 2: Markup or lower into Stage 4: Decline.
Our YouTube channel provides a video presentation from this year’s Convergence conference.
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