March Oats seems to be trying to build out a Head and Shoulders pattern. Pivot right now has become support for a possible up move for last shoulder. Upside target 278'4. There is also a Bullish Gartely here unless Oats drastically collapses.
Note
Oats recovered from losses over the week. Almost made S1 and bullish Gartley. Looking for confirmation of next direction.Note
Oats continues to edge down. Next downside target S2 at 247'4. We might be headed for 240.Trade closed manually
New TargetsNote
Oats made long term uptrend line. Waiting for direction.Note
Double bottom for Oats with doji. Sitting on my uptrend line. Is there more upside to this, or is it going to falter??Note
Oats showing nothing new. RSI is oversold. Could get even more so before going up. Still looks like bears want 221Note
Oats created a bear flag today. Grains are down again today. Expect fall for oats. Downside target 246'2 which would bring it inline with major trade influence.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.