Oats in bullish wedge pattern. Watching for direction, but projecting bearish Shark with Elliot Wave. Expecting a little lower RSI before new run. New pivots have formed.
Comment:
Some slight postive news for Oats as it is showing solid candle after three shooting stars, but still no definite direction. Must move to R1 at 276'4 for any major upside. 20 day moving average is support.
Comment:
Oats broke out of wedge and looks to be climbing. R1, 276'4 and double top 208 next targets.
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March oats in a lull. May Oats shows a better forecast. Bull Flag.
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Up trending wedge pattern for Oats. Upside target R2 at 286
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We have a bull flag on Oats.
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Oats showed bullish flag until last part of trade fell back to trend. 20 day MA now becomes support.
Comment:
Bear flag on Friday, but since this market doesn't know what it really wants to do and shows no trend, this is a risky venture. Pivot becomes support at 261. Look for break of 20 day MA.
Comment:
Oats fell through 20 day moving average and stayed under. Downside target S1 at 245'6
Trade closed manually