Price respecting these trend lines very accurately.
Commodities like Soybean, Corn, Wheat and Sugar are great great markets for this type of trading because of the low manipulation from the big banks.
Let's see where the price goes next.
After having a big rally long term, buying pressure has slowed down and selling pressure will take over from people taking profit.
Based off experience in the market, the more a trend line is being tested, the more pressure is put on it. So each time it tests it, it weakens it until it cannot support the weight of sellers, and thus, will be broken more...
While doing my analysis on AUD and CAD, I concluded that CAD would go down and that AUD would go up this week, so this combination is the best to go long right now for taking advantage of both ideas at the same time :)
OANDA:NATGASUSD showing some strength after a downtrend.
Bullish pennant triangle broke to the up side and retesting it, which creates a great entry point.
Looking for a reversal to the up side long term.