Hewlett Packard HPE performed well last quarter. Dropped off of Head and Shoulders. May be rebounding back up to R2 at 17.73. Bear Bat possible pattern. Next upside target is moving over pivot at 16.06 and then breaching the 20 day MA. around 16.40
September Soybean Meal has created an H&S. Market is now at the neckline and waiting to see if it breaks. Minimal drop would be to S2 at 364.3. Minimal shoulder height would put it at S3 at 353.5. Large sells for this formation came in at the 20 day MA at 378.1. There is also a support line coming in at 357 so this may be a launching area for an upward move. The...
Milk had a steady climb through April and May. Now retracing. Fell out of the channel today on a gap down, and expect fall to S1 at least, at 16.44. May attempt S2 at 16.29. It has breached the 20 day MA and has stayed below. Pivot at 16.70 becomes resistance. July contract fell last week and is ahead of August.
Oats coming off of down channel and rising. Hit downtrend RSI. Watching for break of this mark for further upside. Oats has just crossed 20 day MA and stayed above. Next upside target is R1 at 244'4
October hogs lifting off of the S2 after being sold off last two weeks. Upside target for bulls is at S1, 62.900. A lot of overhead must be cleared before significant upside can materialize. One of them being the 20 day MA and significant sell orders at 63.775. The Hog index has turned around and is now rising again from lows of 62. Index is now at 69.
June Bitcoin fell through the 20 day MA. Expect further fall through pivot at 8565 and then onto S1 at 7320. Bullish Bat in play here.
New pivots for Live Cattle. Now projecting Bearish Cypher. Cattle was in a three drives pattern and the fall today may signal further downside to S2 at 106.475. Cattle made pivot today at 111.050. First target is uptrend line at 109.050. Cattle is under the 20 day MA.
Meal broke uptrend and neckline of H&S. Waiting for confirmation to break S1 at 373.9. Bullish Cypher possible pattern. Market under the 20 day MA. Minimum target height of shoulders at 365.2
New pivots for June Hogs. Predicting Bearish Cypher Hogs showing bear flag today. Need confirmation tomorrow. Possibility to progress further up so stay on your toes. Short final target S2 at 68.625. Moving Average at 75.525 becomes resistance. If break of MA, then uptrend may continue without fall to S2. Hog index is rising again. At 62. If this goes down, first...
June Canadian dollar is having a tough time rising significantly. Oil prices are in overbought secenario, but is still bullish. The USD is hitting higher points. A bull flag may be appearing on the CAD, or an Head and shoulders. Down day Friday and has sunk below the 20 day MA. Pivot at .78410 is becoming resistance. If the CAD can stay above pivot, there should...
June Live Cattle broke through the 20 day MA and stayed below yesterday. Fell further today. Target S1 at 99.475. However we have seen this play before and Cattle at the end of day fought back to post a hammer rejection. Outside target if this plays out is S2 at 96.950. Feeder Cattle index remained steady for a week at 137.5 and yesterday fell 1 point to 136.12....
Husky Energy crossed the 20 day MA with force. Expected move to 20.03 at R2. Minimum R1 at 19.41 unless unforseen circumstances pushes it lower. Stratospheric if R3 21.03.
Diplomat Pharmacy broke 20 day MA and downtrend line. Looking for rise to R3 at 25.23. Overhead comes in at 21.88.
July SM is nearing breach of 20 day MA. Either we will have a bounce using 20 day as support or a breach. Fail twice at highs of 397.6 and double top rejection would gives us hope of breach of 20 day and Gartley. S3 should take us to oversold RSI.
July Corn is nearing the 20 day MA. This line will either be support or will be breached. We expect breach. Turn around expected at S2 as that will put RSI oversold and produce a Gartley pattern. We should see tonight what the corn people think of direction.
Wheat appearing to be building out a Bullish Gartely. The breach of the 20 day MA puts us in a possible continued sell off. Downside target for bears is S1 459'1. If Wheat uses MA for another upside bounce we would be looking at further upside to 499'6, but with all the other grain markets in the same condition, down, we expect further downside.
With all these Gartley patterns it's nice that we have a different setup on Soybeans. A bullish Bat may be in store for Soybeans. We are nearing a 20 day MA cross over. Again like Corn, Soybean Meal, Soybeans may use 20 day MA as support for another run up. We are watching breach of downtrend line for RSI.
Live Cattle moved above the 20 day MA yesterday and today showed more promise of an upside. Has moved across pivot and eyes R1 at 116.275. Bearish butterfly possible pattern. That will take us into next month. RSI should take us across R1 and possibly R2.