Comments on the chart. 1620 is where the idea is wrong
Comments
againstthegrain
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agree. when/if breaks 1600's it becomes a buy indeed.
question now is to understand whether bears will have the strength to put market below 1420. Technically what we saw yesterday could still be a correction and an alternate count would suggest that a B wave is completed and a C wave is to come. However I am become more and more bearish on ag commodities in general. Thus I am afraid you may be right.
Olu
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Thanks for your reply. Another possibility is a triangle which is a time waster formation. and an expanded flat. I just picked the option that made more sense to me based on the entrenched downtrend
question now is to understand whether bears will have the strength to put market below 1420. Technically what we saw yesterday could still be a correction and an alternate count would suggest that a B wave is completed and a C wave is to come. However I am become more and more bearish on ag commodities in general. Thus I am afraid you may be right.