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- Gamestop/AMC Soar Roaring Kitty Back, Next Leg Up In Gold, Corn Going Up
Gamestop/AMC Soar Roaring Kitty Back, Next Leg Up In Gold, Corn Going Up
Michael Swanson
May 14, 2024
Become A Better Trader And More Informed Investor
The price of corn rallied today, but it rallied up above it’s high of last week. It is clearing a stage one base and has all the look of entering a stage two bull market. It is now above its 150 and 200-day moving averages.
Notice how it’s 200-day Bollinger Bands are contracting, that’s a long term consolidation signal.
I made note of corn a month ago in a post, in which I showed how it has a big short position on it in the futures market among small traders and a long position with the big commercial hedgers and producers.
This simply look likes another key commodity going up.
No one is talking about corn, though, because yesterday AMC and Gamespot soared.
For the moment people want to play the meme trade again.
