bustling markets from buy nov beans sell dec wheat ratio, -37c was support, another near miss buy level. Do you think people are waiting in the wings to buy? (chart order challenged but levels posted last few weeks. Olive’ line is powerful. Illustrative purposes in charts, patterns. The 7’s also appear a lot and have good meaning if you like …
Lesson, how to read charts
Good morning Farmers, Trader’s and you, If you like the levels so far here on Walsh from meat sell levels (feeders, live cattle) or the soy complex (meal and oil included) buys hit last few weeks I want to use this time to explain a live level on how I think we approach technical patterns when they appear. I …
Soybean Complex: Weekly Round-Up
July Soybeans Throughout the week I have interpreted the recent rebound as an non-impulsive corrective wave. Remaining opened minded is an essential quality to posses when engaging in analyzing wave structure. One must always be on the look out for alternative scenarios. The market is always right and has chopped higher through previously deemed resistance levels. I believe we …
Weekly Gold Report
Gold posted its first weekly loss in five as an unrelenting rally in the stock market and a strong bounce higher in the Dollar have longs exiting their positions ahead of next week’s FOMC meeting and subsequent decision on rates. Gold has for the most part hung in there with this recent rise in equities but as savvy investors realize both markets …
Drought or Macro 8% move the norm?
Grains- Summer Low’s may be in, possibly beans and meal go back down but this is my 34th weather market so strap it on, “it’s getting hot in here.” Meal could be the best sell, spreading-wise against a few. Crush for soybean oil and by-product soy-meal could become the weak sister. 307-ish now but just spiked down on 6,000 contracts. …
July Soybeans: Wave Structure Analysis Applied
July Soybeans Soybeans pressed higher thru projection and resistance zones mentioned in yesterdays post. Because of the sloping quality and time factor effecting these levels one must be careful of attempting to pinpoint exact trade location and also be willing to minimize risk. Trading is like fishing in a sense. The minor drawdowns you incur are comparable to the bait you lose …
Long on events , short on reactions
Lots on the agenda If you looked on the calendar today, you might have seen the following schedule; ECB Decsion, UK Vote, Comey Testimony. All had the potential to send the markets on a run, in either direction. At the end of the day the markets didn’t look too much different than any other session. ECB Holds Steady The European …
Soybean Complex: Assessing The Structure
Another sloppy session develops in the July soybeans. A typical description of a corrective counter trend move. The market should be setting up for another impulsive wave lower. This upcoming wave should commence with a minor 5 wave move. This should be closely monitored. As of now it appears unclear. If contract weakens and holds below 926.6 I would consider this the commencement of …
Livestock Report
Live Cattle The August Live Cattle made an early attempt to rally and recover some of Tuesday’s late day losses on Wednesday, June 7, 2017. It made its high for the day at 124.925 right around the time the fedcattleexchange auction was to take place. The auction was postponed however, to Thursday as technical glitches with their website occurred. They …
Daily Gold Report
Gold and Silver futures took a respite from their post unemployment rally as equities again held their ground while the U.S. Dollar finished slightly higher. A big drop in crude oil and gasoline prices potentially spilled into the precious metals sector as there was a reluctance by buyers to push front month gold futures above 1300.0 and ounce and deferred contracts in silver …