December Oats is bottoming out, however created a bearish flag today. May fall a little further before correcting. S2 is still in reach. Waiting for correction. RSI is extremely oversold. All grains at this time are bearish.
Comment:
Oats fell somewhat off of a bearish Flag. Looking for sideways trading.
Comment:
Oats still moving sideways although today may have shown new direction up for retracement.
Comment:
Oats still using S1 as support. Upside target, pivot at 256
Comment:
Oats making a move to pivot at 256. Will have to see if it can break and stay above. This market crossed the 20 day moving average.
Trade closed: target reached:
Hogs fell today off the proposed bearish Cypher, which ended up being a Bat. Almost made my D, but did exceed pivot. Next downside target S1 at 57.800
Comment:
Sorry closed wrong future
Comment:
Oats continues to head upward moving towards pivot. How much more steam this market has for bullish moves is uncertain.
Comment:
Oats closed in on pivot and 38.6 retracement. Will see if Oats flounders or continues up. Market caught between pivot and S1.
Comment:
Oats being supported by prices back in Spring of this year. Oats would have to break 234 to have a downside move. Pivot for upside trend. RSI still has a ways to go before 69.60 so we might see some more sideways action. If it bolted to R1 - R2 area this would tax out RSI for a fall, but then we might be in an Oat uptrend to 300.
Comment:
Oats keeps trying to find a reason not to fall, however today's candle suggests this might be the tipping point. Waiting for tomorrow's confirmation.
Comment:
Oats ramped up with heavy buying. Next upside target 268'2 which would start tapping out RSI
Order cancelled