A correction lower in the grain markets is challenging bullish trend lines. StoneX market analyst Phillip Claussen says up trends are still in place, but just barely. “From a technical standpoint, we’re still holding onto the bullish trendline, but we’re making a healthy correction. It’s been an environment with increased volatility, but at some point in a bull market, you need corrections.” Volatility can cause overreaction in the market. “Time will tell whether it’s a correction phase in a bull market or the end of it, but you never know until the end. At this point, it’s still a bull market.”
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