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...
Corn: Price took a 5% beating during the past week and has therefore principally negated our bull scenario that we had put on the chart last week. Still, we see that the bottoming out is imminent although the confirmation of same has not yet been delivered and price is close to its contract low of Aug 12 at 322.50 which is likely going to be taken out during the...
Beanoil: During the 2nd half of August we were taken a bit by surprise by price's upswing which stopped us out from our bear bias. The picture of today does not really give us a very clear vision on the nearby future. Principally, we should see price resuming to the upside from here and especially now to seek for the 36/37 zone from where price can resume its...
Soyameal: Nothing much new to add to the picture of this chart for now and we keep our bias unchanged for lower values. During last Thursday's session price broke its recent 321.20 low which was confirmed during the session of last Friday and the way is now open for price to trade toward the next recent low at around the 280 level that we expect to reach during...
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.
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...
Corn: Price action did confirm that the bottom is in the market and price moved up some 3% during the week. We call it a bull bias from here but would like to see an impulsive move up during the coming week to secure the move up more solidly. A draw back could still occur but is not in our favourite scenario.
Beanoil: Price posted a solid gain of over 6% during the first 3 days of the week after which 2 'Hanging Man' candles were formed. This could be a sign the end of the rally is imminent but same needs confirmation. We have been calling for lower levels and with a rise of over 11% the contrary happening during the past 2 weeks. Stops were hit and it is time for us...
Soyameal: Price has been moving sideways more than anything else during the past week and reversed on Tuesday after an initial and minor swing up. Thus far price is following our preferred path reasonably well and we keep our target on lower levels and have even trailed down same target to the 285/275 level after which we expect even lower levels from there. No...
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...
Beanoil: Price has traded up further than our liking and than what we were expecting. The overall picture remains a bear biased scenario for us with a possible further swing up to 33.50 now which is a 61.8% Fibonacci retrace level. We expect decline of price but with keeping the Fibonacci resistance level in mine and we expect accelerated volatility of the down...
Update for CORN Z16: During last weekend we were not certain yet on the bottom in the market for this price and we would have liked to see one more swing to the downside. In meantime, however, we identify the candle of last Friday as a 'hammer' that has been confirmed by yesterday's firmer candle. We are looking to the upside from here and call a tradable bottom...
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...
Corn: Price basically has been moving sideways during the past 9 sessions although it made a fierce spike to the downside during yesterday's sessions after which price recovered back to its level of apparent comfort of the past 2 weeks. We are anticipating a solid bottom for price and have done so for some weeks now but we currently still feel uncertain to call...
Soyameal: The pattern and chart of this price shows quite some resemblance to that of the soybeans price with a far from perfect 'bear-flag-pattern' and a still preferred part to the downside. We keep our focus unchanged to the downside and have trailed our critical resistance level down to the 350/355 zone where. if broken to the upside, we will reconsider our...
Soybeans: Price is following our preferred path only reluctantly and the earlier drawn 'bear-flag-pattern' is far from perfect. Still, we keep our eyes to the downside for this price and we have even trailed our target a bit down to the 870/850 zone which is some 10% below the current value. We should allow price to trade a bit up from here to the 1020/1025 zone...
Friends, A rare coverage of the ag-commodity, but here it is - Corn (P) expected to remain under bearish strain, with a confluence of background technical tools pointing down towards the 244'4 to 202'6 range, against a foreground Predictive/Forecasting Model eyeing bearish targets as low as 202'6. TECHNICAL TOOLS: Fibonacci, Shark and 5-0 Patterns An overlay...
Wheat: Price has performed a 'Bullish Engulfing' last week which usually is a reliable reversal pattern although it need reconfirmation. Price also settled above the short term resistance level last Friday which gives the BE more credibility. We expect price to make a swing up from here to the 450/460 zone where we expect price to reverse for a 15% move to the...