Use a stop loss under yesterday's low, risk 1% max, and aim for a 10% rally from here. Commercial traders have been increasing long positions, and the chart is very bullish, and outperformed most commodities in the previous session, so this is a very attractive setup. Good luck, Ivan Labrie.
Bulkowski's Bump 'n' Run Bottom. Look for long on pullback. Target top of pattern.
Or there maybe a stirring in oats loins. Waiting
Contract changeover was v cruel. Note the many similarities in the commods (by line)
oars is showing a potential breakdown, if price breaks 225 i expect a bigger move. this set up looks better on lower time frames, but i don't have it on tradingview. also adding weight to to the trade is the RSI below 50, the Slowstoch is down trending, and also a nice sell set up a few days ago in the moving average zone marked by the yellow arrow.
Not really trading it, so pls don't trade it on our charts as levels are not accurate.
Oat douple topped and is poised to move lower. This is a high probability trade. Target on the median line but could move even lower depending on the speed. The only negative aspect is the thin market. Oat normally anticipates the market move of the other grains. Look for short opportunities.
OAT is extremely overbought. Price increased exponentially since Oct2013 and is now due to correction. 1/2 Bull Gann line can act as resistance. A trade below 391'0 tomorrow would confirm the set-up. A continuation to the upside would negate the set-up. Target on the 20EMA. Seasonally weak till April/May.