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<x-rich>So the Corn reached its target a 266-267, where it found a Fibonacci retracement and an important trendline. Speaking of Fibonacci, please note the last move from 242.25 to 266.50 equals 0.782 times the first leg of this upmove from the bottom on early July to 258.50, being 0.782 the square root of 0.618.
Additionally, yesterday we experienced a doji pattern, accompanied by high volume (people believe an important target has been reached, and so sell). So I think Corn has arrived for now. But the short-term trend is still intact (take a look at 34-day momentum, and note how well it pullbacked its 21 moving average when Corn retraced to 243); an overcoming of resistence at 267 could lead the courses at 275-276.
ciao
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<bold>Gaetano Arnaldo Evangelista</bold> - BARI (Italy)
E-mail: ageitaly@xxxxxx
URL: http://www.geocities.com/wallstreet/8492
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