edzim

edzim

I enjoy seeing these combinations and extensions in possible moves. I see this is the case in several agricultural commodities. Here is the Soybean oil chart.

edzim

saw wheat form a wedge which saw an upside move higher. The price break did not hold and it fell back into the existing wedge within a week. It broke down through the lower bound of that wedge today which confirms a move to the early formation of the wedge. A potential extension forms when that wedge may confirm a larger double top. GLTA

edzim

Expecting a bounce lower off this long term resistance. Probably into the coming weak given recent dollar weakness.