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...
Wheat: Price took an impressive beating of 8.5% for the week with especially Friday's session being very weak with a 4% decline in value. The move of Friday was very decisive and volatile which is a very strong indication that more decline is to be expected during the coming week. There is no tradable bottom in this market just as yet and we will need to allow...
Soybeans: Price kept us waiting for a bit but made a decisive move to the downside after all during last week with especially a serious crack down of some 3% during Thursday's session and a break of the 962.50 immediate previous low during Friday's session. We have no reason to change anything in our projections or expectations and we only refined the targeted area a bit.
CBOT:S1! Safe Trades; Naragonia - open.spotify.com
3% since my idea on Friday. Bounce adds to my conviction. Targets initially at 158, then 170.
The strong rally of support at 134.90 is very encouraging for the impulsive count from 111.05. The next upside targets to look for is seen at 162.95 and 178.95, but the long term target remains at 233.80 as a huge flat wave is unfolding. Only from 233.80 is the next strong decline in wave expected to take over for a long term decline to below 100.95.
Central banks kept on printing money can have unwanted effect in the intrinsic value of money. With one of the function of money to store value and stock market was valued in fiat money (USD), we need to revisit what if S&P 500 valued in barter transaction with Sugar #11 (raw sugar). For sure, who does not know sugar? Everyone use sugar. From the bottom to the...
Wheat: We have rolled over to the DEC16 contract. Price action is not really giving away a lot and has been puzzling us more than one time during the past months. The descending wedge that we see in this chart usually is a reversal pattern from where price aggressively trades up but the break out of the upper line of same wedge was't really impulsive. We are going...
Soybeans: The price is not following our preferred path and we have removed our bear-flag-pattern from the chart. Still, the EW count suggests another round of selling to the 900/880 level from here and as long as our resistance levels remain intact we keep our bear bias unchanged. Thursday's session created a classic 'Hanging Man' which is a reliable indication...
I am bullish Coffee since a series of bullish momentum divergences started to develop in February, March and April. As with other commodities, I am convinced that the early 2016 lows were important cyclical lows. I am therefore bullish Coffee long-term. The weakening US Dollar should further support the entire commodities complex. The latest correction brought...
soybeans and many other ags have rallied after dumping on the crop report and is possibly making a trend reversal after months of bearish action. I'm looking to pick up a long on a healthy pullback.
1. Pin bar (16/08/2016) 2. Key support area of $45.00 3. Uptrend line support being tested 4. Trend 5. Breakout zone 6. Pullback 7. Fib 0.618 (measured form may low's to August Highs
Cotton seems to have formed an Expanded Flat in Wave 4. It could reverse any moment now. IF it makes it to the trendline, then could reverse from there too.
Wheat: Price has not made to corrective move up during last week as per anticipation but rather kept moving sideways with a rather volatile session last Friday. We keep our views unchanged but have to accept that the timing will be later than what we were initially expecting. Consequently we have moved the preferred path in time. We are waiting for the move to...