May Soybean Meal Gartley pattern almost complete, but may turn into a Bullish Butterfly. We may see a pause at 78.6 before trending lower depending on how fast Brazil can take off their large crop, and what the feelings are of traders. Major support for butterfly comes in at 313.7. Gartley comes in at 322.7
Comment:
May Soybean Meal fell off of bearish flag today. Gartley 78.6% almost met. Seeing that Soybeans has come to its butterfly today, we may see one more downward plunge. Waiting for confirmation to the upside.
