Corn nears key 500 level

Corn (ZC) surged more than 2% Friday (on the December contract), forming a higher January high versus the December high, which in itself was higher than the November high.  A higher January low vs December low is all but assured, and would reinforce the higher December low vs the November low.  ZC has completed a major bottoming effort with the 3 month MACD blue line trying to flatten and the 3 month MACD histogram becoming less negative.  The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.  I am looking to go long in the green zone (of the daily chart), targeting the red zone for Friday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).