ADM is approaching our first resistance at 47.15 (horizontal swing high resistance, 61.8% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 43.26 (50% Fibonacci retracement ).
Stochastic (55,5,3) is also approaching resistance where we might see a drop below this level.
ADM approaching support at 43.44 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 46.75 (38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 4.03% where a corresponding bounce could occur.
This could be a nice little swing trade to 2014 highs. We had a nice gap and trap this morning with it opening above 49.. People might want to wait till open tomorrow and see what happens today, but I'm going to take this trade to 52 area.
