BIG down day today for beans. Looks like a weak Argentina crop cant compete with a +500bu carryout in the US. And talk of farmers increasing acres... How is the thought of that going to help things.
This tariff talk... Not going to be friendly in regards to US exports to china.
And about those technicals...
I mean come on. This market was OVERBOUGHT. end of...
Another simple trade idea.
CLF broke above its 200day MA on the weekly chart. though the stoch looks overbought, it could provide long term gains if the price is supported by the 200day MA.
long term projection would be around 58.
another benefit to this trade is the oil performance as of late. overall bringing increased interest in oil based companies.
Simple trade Idea.
SLCA has been on the upward trend and has broken above its 200day MA on the weekly chart.
They have also been reported to ramp up production in 2018.
Play this from the long side with a projection to the 47 area.
of course another week of strong performance would validate trend. I could see a pull back to the 200 day MA happening. if that...
New crop beans are a little indecisive here at this point in time. But there are a few key indicators pointing to a movement upward.
1. Fundamental Analysis:
- China has been on holiday the last week. beans are cheap when comapred to rest of global market.
- China needs to buy beans for nov coverage.
-when they get back you will see big buying which will allow...
Simple trade strategy, DEC Bean Oil has been in a bearish channel for a while now. Price is close to reaching resistance. I think its a decent long play (possibly short term) until resistance is hit, then look for direction:
1. If breakout, buy signal
2. If resistance holds, sell signal
(The Stoch RSI seem to look very overbought to me. I could see the...
Bean oil looks as through it is setting up for a nice bullish channel.
A bounce off of the support near 35.08 will confirm its validity and will be a chance to enter long.
A second bullish confirmation will be a move above the 21 day Moving Average
A breakout to the downside will void the idea and the chart will be reassessed.
Would like to see the price...
Over the past few months, ZCH2017 has been more or less range bound.
Fundamentally we know a few things:
1. massive supply
2. decent demand
3. a season of south american planting that can make or break the US ag market.
We also know a few things technically as well:
1. A range bound chart that turns over at obvious support and resistance zones.
2. a possible...
I believe dec corn weekly is moving into a downward trend at least for the nearby due to a combination of technical and fundamental indicators.
MA's are nearing convergence and the Stoch RSI has already done so. MACD has begun its downward trend as well and RSI looks to be heading lower.
This week the USDA released another one of those great reports that they...
With the convergence of the Stoch RSI, downward trend in price, as well as the MACD, I would say the bears are alive.
RSI is also moving down. A long way from indicating an oversold market, but it may be headed there.
Open Interest has been rising as the price has fallen the last few days, which indicates another sign of the bears.
I'm gonna go with a short...