Wheat: Price has not really been following our preferred path very precisely lately and has been knocking on the doors of the various resistances repeatedly, especially during the past week. Still, the price action as such during the past 3 weeks does not have anything of an impulse and price shyly tried but failed to trade higher. We still believe that price...
Soybeans: Nothing much changed on this chart and price keeps trading sideways within the boundaries of its expanded flat. We expect price to continue its down move from here and expect it to break its recent lows of the 940/935 zone finally during the coming week. If and after this happen the road to the (roughly) 915 level if free to trade to for price where we...
We've got a possible wave {iv}, which was ended under the 144 SMA. So, there's an opportunity to have wave {v} of 5 in the short term.
Long term play risking last years low.
Soybeans: Price has basically been bouncing between, roughly, the 980 level and 940 during the past 2 to 3 weeks keeps making impulsive moves after which a reverse occurs. Same happened again during the past week and especially the past 2 sessions showed a rather impulse to the upside which makes us believe that higher value is in the cards for this chart during...
Wheat: Nothing much to add to our last week's outlook on this chart and price has been following our preferred route quite precisely. Price is now approaching the descending resistance trend line at 407 Monday and at 406 Tuesday with an additional and crucial resistance at 411. As long as price does not break the 411 mark to the upside we maintain our bear bias...
Looks down to the 140 area for a test. However as long as the orange or blue trends hold, the upwards trend is still intact IMHO. short call spreads above 165 in Dec or January might be a good idea. I would buy any puts as downside seems limited for the moment and option volatility might decline during a sell off diminishing returns on long option strategies....
In the chart above I've plotted average cattle prices since February of 1980. I found that a 30 year view is typically enough to see the big picture in a market. Prices closed today (9/6/16) nearly exactly at par, which has been a major level since 2003. From its all time low (53.xx in July 1985) to its peak (170.xx on Nov 2014), the .618% retracement sits at...
Wheat: We keep our short term bias unchanged and we are still anticipating a bit further decline in price. Thus far price has been following our preferred path reasonably well although the minor correction up started a bit earlier than what we would have thought. From here we expect a little more upside move on Tuesday after which we expect price to continue it...
Soybeans: Nothing much to add to our last week's vision and the fact that last Friday's session showed a firmer market due to short covering does not change our bias. We are still looking for a further decline for this price. We kept our price target unchanged in level but have shifted it a bit in time.
This is the third touch of the Centerline. As you can see, it springs up every time it lands there. So, why not this time? Playing it small... P!
same idea as the wheat trade using a calendar to get long the corn curve
wheat has been pushed down hard on large crop volume and seems like good time to take a shot, will use a calendar spread to reduce cash required
Price hit resistance near 450 and also retested blue median line resistance near 430, and has cascaded lower. Look for possible continuation lower to 375-350.
Wheat appears to be nearing the completion of a major ascending wedge that spans 4-5 years. Best way to take advantage of this would be a wide entry with a safe stop once a bottoming pattern appears on the daily/weekly. My guess is we won't see a bottom until late 2016 or maybe early 2017. Martin Armstrong has posted about the global *cooling* (not...