Price did not make the corrective move down to 975 during last week as was preferred by us but rather traded a sideways pattern between, roughly 1010 and 1050. It doesn't change our general expectation of the development of this price but we need to adjust our preferred path a bit. We take our view to the upside from here and have a bias with 1100 as target which...
Price did not develop as per our preferred path during last week and broke through the downside of our ascending price channel. This makes us feel less comfortable although the critical supportive level of 450 remains intact for now. However, with the price making a move down last week we will only start feeling more comfortable if price breaks the 480 level and...
Price did make the pull back down to its supportive level after all and bounced from same support during Thursday's session after which a follow-through materialized during Friday's session. Nothing much changes in our bias on the development of this price and we keep our outlook unchanged to the upside.
However, we are not yet completely out of the woods and on...
Corn:
Price made a 13% swing up during April and corrected down rather impulsively during the 2 sessions of Apr 21 & 22 in order to correct its overbought status. On very short term the key level is 382.50 which is the low of last Thursday Apr 28. If this level breaks during the first half of the week we anticipate a bit further decline of price that could go as...
Soybeans:
Price has made a strong move up during most of April but is now running a bit out of breath and needs a correction before it can make another move up. Price is now in a 4 of (3) but has not made a decisive move yet to complete same 4. Ideally, price will make a move down to 975 during first half of the coming week before it reverses and develops its 5 of...
Beanoil:
Price has been moving in a wide-ranged ascending channel from Sep/Oct15 onwards with higher highs and higher lows. Since about two weeks price started again a correction to the down side but still within the boundaries of the ascending price channel.
The candle of last Friday was a perfectly shaped ´inverted Hammer´ which is a strong reversal signal and...
Soybeanmeal:
Price has made an impressive rally up during most of April and its indicators like RSI and MACD have reached oversold area (not displayed on the chart). There is a solid supportive level at around the 300 mark which is about 10% down from the currently traded price. We favour the theory that price has completed its B of (4) and that price is now at...
A renewed set-up on the beanoil chart after our last set up earlier this week did not materialize as the selling trigger lacked. Today we see price making a so-called 'bearish engulfing' which is a reliable reversal pattern.
Price kept its divergence with it MACD and RSI: higher highs in price (compared to it last high at close on December 4 at 32.35) but not...
We have a possible short set-up in the making here.
The beanoil MAY16 chart is of 11am CDT so the session in Chicago has not ended yet. The candle could be a 'shooting star' in the making which, principally, is a bearish sign and it is a reliable bode that the end of the move up is imminent.
More important, however, is that the chart is showing divergence between...
There is a possibly short play opportunity developing on the Corn MAY16 contract that, if valid, should materialize some time between March 15 and 18.
Price has been trading within an ascending channel that started March 3 and price is currently at the higher boundaries of same channel.
There is a longer term and rather wide descending price channel that started...
The price of CBoT MAY16 wheat develops and interesting short play opportunity here, same although going short in the lower regions usually is not to be recommended.
Price has started to create a descending price range channel during late January with lower highs and lower lows. The candle of March 2 is a bit contradictory in the sense that price made a lower low...
I have my own trading system depending on only numbers and dependin on my system it said short. I only want to publish here to track my records and share with the public.
I still do not like longs on most of ags, unless you aim short term and get orthodox with your stops. Since my previous post about one month ago (see link below), SB11 is keeping its pace moving downstairs. At this point in time I see no signs of reversal, instead, my reading says we are about to “dive the five”. What comes after that remains to be seen.
It is...
Wheat has been in free-fall since Dec. 19. After a strong buying day on Monday, sellers are keeping the price clamped down right at the 9 day EMA. This is one to watch as it's setting up for a possible rally if it can break through that resistance line.
