With all the drama of last year and many areas locked down, one of the big sufferers was agriculture. Much of last years yields went to waste and panic buying occured. Which I'd guess also went to waste for the most part.
As you can see on my chart I'm expecting a sizeable pullback in price before the event, which is completely normal.
let it collect the orders...
Placing a fib from July 2008 high ($147.27) to April 2020 low (-$37.67). There's been some nice alignments. .618 has been a solid bounce. .382 a solid rejection.
Marking up the top and bottom of the candle that took us below zero, crashing oil down to -£37.67, then finding the midpoint, takes us to $1.97. That's the potential low and very possible if we get a...
This is for those looking at longer price projections..
Price WILL recover..but not yet, it will take time.
I'd love to tell you exactly where we fall to, but I can't and neither can anybody else. this is uncharted territory. but those lower targets will be areas that will react.
Best to look at this chart as a guide to lower targets with a final destination by...
The flag predicted is a clone of the previous flag after the pennant printed. followed by a further pennant.
Take note of the coloured circles, where previous resistence areas were tested and became support.
Ultimately it's a long game, but plenty of short days in there.
1. Long term bulls need not worry, just potential buy areas coming. Short term bulls,...
This is built on a possible forming H&S and not an actual H&S and should be traded accordingly. If at all.
I personally believe UJ is coming down anyway, with or without the above mentioned.
Wait for confirmation before you enter. Right shoulder height and neckline depth, both matching the left.
The title pretty much says it all really.
If it respects the channel, we could see what I've predicted. The fundamentals are there to back it up for now.
If it breaks the channel significantly, reduce exposure or cut your positions completely, depending on your exposure.
The Sunday gap may not happen. but doesnt change much as far as the outlook goes.
We've been here before, right?
How many tests must it take before it gives in.
Strong gold, weak dollar. uncertainty in the market.
Surely it's time for the late lows of December 2018. my entry is when it breaks below the green zone 50.1/50
Updates to follow...
Looks to be in a channel right now through to mid Feb, after that we may see some correction. If it is, both sides could play the range and make healthy profits. but bulls can hold their positions longer.
Looking at recent patterns, it would seem a safe bet to assume that we repeat the earlier cycle pattern (green box)
Should tap the 50% fib and turn down. The trend line is area for TP. Further downside expected. I'll update after we hit target.
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