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<x-rich>Yesterday was the fifth day Corn ranged from 268 to 273. But according to the chart attached, something may change soon. First, we finally touched the 20-day exponential m.a. (a good support) and closed at the highest level since Aug. 25. Secondly, the moving average on the momentum is continuing to rise(indicating uptrend), while the indicator found support on an old trendline, and from there could begin to rise again (as it made in late July). So I believe today could begin a bullish phase for Corn, and the trading range we experienced these days isn't a continuation pattern. But, to avoid unpleasant events, maybe it's better to tighten our stop and carry it to 260.50, below a Fibonacci retracement and the up trendline.
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Attachment Converted: "c:\eudora\attach\Corn11.gif"
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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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