July Oats Bearish Cypher

Short

Oats Futures (Jul 2018) (CBOT:ZON2018)

Updated

CBOT:ZON2018 Oats Futures (Jul 2018)

Oats coming off of down channel and rising. Hit downtrend RSI. Watching for break of this mark for further upside. Oats has just crossed 20 day MA and stayed above. Next upside target is R1 at 244'4

Comment:

Oats maybe turning over and heading back down off of channel. It achieved R2 at 250'6, but R3 seems to be formidable challenge.

Comment:

Oats maybe in a three drives scenario on the July contract. This will extend beyond this contract so you might want to look further ahead.

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