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May Soybean Meal

Short
Soybean Meal Futures (May 2018) (CBOT:ZMK2018)  
hopscotch Updated   
CBOT:ZMK2018   Soybean Meal Futures (May 2018)
Pivot Points Head and Shoulders Elliott Wave
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pivotpoints headandshoulders elliottwaves
May Soybean Meal Elliot Wave Head and Shoulders. Meal looking to break 20 day MA. Two outcomes possible, Wave rise to R2 - R3, or H&S. In theory wave 5 is shorter than wave 3, so both may occur with a final H&S.
Comment:
Meal showing signs of a last shoulder and drop. Still under the 20 day MA. Target is breaking pivot at 372.1 and moving to S1 at 347.5
Comment:
Meal has gone through pivot, neckline at 368 next.
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