FCPO is making a push higher. Still with bullish view unless shown otherwise. As price didn’t go in a straight line, it is expected that it might retrace a bit towards 4200 area (this is also the area to look for entry to go LONG) to fill up the gap before making another bullish push. If this happens next week, then another leg higher should target the previous...
FCPO is to go higher. Strong bullish push towards a target of 4247 to its way to a higher target of 4425.
The price is still bullish however some retracement is expected before a run higher. Expecting that this week it will make retracement towards 3995 area. Depending on the price action, another bullish push towards 4208 area before a quick run towards 4250 area (which might not happen so quickly).
looks like the price is following the uptrend channel. i'm trying to follow the price using elliott wave and abcd pattern.
basically history will repeat itself. today candle break the downtrendline after touching the strong support. need confirmation and follow where it will go. continuation or reversal
Soybeans (ZS1!) has been trading within a Channel Down pattern since early 2023 just last week, it almost hit its bottom (Lower Lows trend-line). So far the price has reacted with a minor rebound, while the 1D RSI has been on a major Bullish Divergence (Higher Lows against the price's Lower Lows). This is the best buy signal since the May 31 2023 bottom where...
At the current price going LONG might be a good idea. Initial target should be around 4035. Expecting a bit of retracement after that before another run higher.
Corn's (ZC1!) price action since the COVID recovery in early 2020 is showcasing an amazing resemblance with the previous full Cycle of 2009 - 2014. This is better illustrated on the 1M (monthly) time-frame. Both started the Bull phase on a roughly +175% rebound on the 17 year Support Zone, topping on a Higher Highs (which was a Bearish Divergence with the Lower...
FCPO SPREAD Contract May2024 vs July2024 is attempting breakout from previous swing high 141 Spread Bullish MA Lineup -> Trending Up Breaks and close above Turtle Resistant 138 -> Bullish Upward Momentum -> Bullish Support 124 Next target levels 165 179 203
May Soybeans are rallying on short covering. We will try to catch a ride. Buy May beans 11.86 limit, stop at: 11.63, tgt 12.42
Wheat is itching to complete a bat pattern at 5.00… like to see a touch and bullish candle
5m chart, overall condition analysis. The combination of gcov5 and TCD osc will give more strength to a decision whether to buy or sell. In turn, it can increase accuracy and win. how to get a win in all positions? 1. refers to bull/bear trend ( TCD osc) 2. find a gcov5 signals based on SnD zone and early TCD trend 3. buy price 3 ticks below the close of the...
When the calendar turns to March, gardeners get itchy to plant things. Experience teaches that it's often a good idea to hold off. The above chart shows that corn traders who were willing to wait until late April 2023 stood a much better chance of profit, both on the long and short sides, than those who jumped in during March. The weather markets of late Spring...
Step to identify the beginning of a reversal and making a decision for a trade. 1. Draw/mark the current trend based on HH/HL/LH/LL, and use the trend line at those points. 2. If the current price crosses the trendline, that's an early signal for a reversal. 3. confirmation of a reversal when the price breaks the structure/pattern (bottom/top). 4. After the above...
FCPO is coiling. Price is almost stalling last week. It goes up one day and then it got taken out the next day. So at the end of the week it is more or less moving no where. It might do the same next week within the flag formation. Still with bearish view for price to move to 3720 area which might be the support area before price eventually moving higher. The...
A monthly bulldiv, a resistance turned support, and a falling wedge on the monthly that is breaking out (to the right) now, what else do you need? In the Grain complex, farmers have stubbornly held onto their stores past the December 2023 sale period because they didn't like the prices. The storage basis has ticked up since then. Maybe one more month of high...
1) I see the price movement heading towards resistance, which is the previous trendline support now turned into resistance. 2) I use Fibonacci retracement to find the best price for selling. 3) I choose the selling area between the Fibonacci levels of 1.236 to 1.618, as I see confluence with the trendline and resistance at those levels.
I will monitor price action on this floor and have set alerts for entry. Wheat futures need a correction to the upside. Let me know your thoughts. The Professor