The recent fearmongering about a war that we (as the human race) cannot afford to have and tensions/economic partitions have created a small speculative bubble that is about to pop and wreck some people.
We are indeed in a greater commodities bull cycle (particularly energy) given the string of consecutive poor decisions taken by European and US leaders and monetary policy errors made by central bankers, but prices cannot sustain these unprecedented levels for long and they will eventually tumble before coming back up.
Entering a short now (1676 cents/bu) an ideal target would be 1392 cents/bu or ~17% of the position size. A conservative target would be 1501 cents/bu ~= current 50-day SMA ~= 10% of the position size.
We are indeed in a greater commodities bull cycle (particularly energy) given the string of consecutive poor decisions taken by European and US leaders and monetary policy errors made by central bankers, but prices cannot sustain these unprecedented levels for long and they will eventually tumble before coming back up.
Entering a short now (1676 cents/bu) an ideal target would be 1392 cents/bu or ~17% of the position size. A conservative target would be 1501 cents/bu ~= current 50-day SMA ~= 10% of the position size.