Good Day Trading community
Macro- soybeans making multi year lows. Farmers long and this is going to make people think into qtr end 2 17′ as clear skies mean planting. What crop never got planted? They all did.
SN- $9.07 could provide some interesting action. It’s a buy 1st time down, maybe tonight. Fundamentals bearish.
How to read charts- Under my lines or levels we go to next one sometimes fast like now. If your looking for a level, condition like red diamonds which here mean auto pilot selling imo. Buy level to watch 9.07, nothing under for a while, keep stop appropriate and tight risk. Soymeal below
Corn- sideways for months, no opinion unless selling beans against.
I just rather wait for this 9.07, if you want to buy it, new low stop always, a few cents max to me and see if we get a bounce. This # is like last week 127 in coffee from which we did rally.
Meal, lower to the olive lines posted, 296. 293 areas to buy if looking. I don’t have an opinion but do think coffee next level should be bought. Watch 124.50 July coffee to buy. New low stops after entry but consult with me..
If you bullish inflation then the charts have support levels that I consider the only levels we follow. Yes they are good. My opinion is better than good but let’s see.
If the levels hold and you think it would provide value to you, or want to chat markets feel free
Anybody trade Bonds? 30 year interest rates.
Stock index charts included and suggested if picking a top holiday is not a bad time. No opinion in fading stocks although I see the index futures fully valued, x nasd where they tend to go bubbly.
JULY DEC MEAL- only levels to watch but no comment from me.
