Teucrium Corn Fund (CORN)
Another popular exchange-traded product that is used by active traders for trading movements in agriculture commodities is the Teucrium Corn Fund. Taking a look at the chart below, you can see that the price has failed to overcome the resistance of the 200-day moving average. This long-term moving average is considered to be even more significant than the 50-day moving average, as discussed above, and many bears will likely use it as a guide for placing their stop-loss orders. The lucrative risk/reward and bearish crossover between the MACD and its signal line are indications that the bears are in control, and short-term target prices will likely be placed near the July low of $15.66. (For further reading, see: The CORN ETF: The Best Way to Bet on Agriculture?)
Technical chart showing the performance of the Teucrium Corn Fund (CORN)
The Bottom Line
The bearish combination of fundamentals and technicals makes agricultural commodities of specific interest to active traders. Based on the charts above, traders will likely expect prices of major commodities such as corn and soybeans to head lower and will use nearby trendlines to set the placement of their orders. (For further reading, check out: A Primer for Investing in Agriculture.)
Charts courtesy of StockCharts.com. At the time of writing, Casey Murphy did not own a position in any of the securities mentioned.
My charting using different indicators also is bearish so I'm waiting. Of course I hesitated on the last downturn and missed out!
CORN EDIT, just noticed that Finviz posted this today, but was from 8-14-18, not 9-14-18