The Corn Trust ETF (CORN) sports a rounding bottom and breakout over the last few months. The rounding bottom extends from mid November to the end of February with a big bullish engulfing in the middle. The breakout is still a work in progress as CORN stalls with a flat flag the last two weeks. A break above flag resistance would signal a continuation higher, while a break below support would question the rounding bottom.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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