Spending some time analyzing the current state of the unfolding wave pattern in the July Crude Oil contract leads me to believe we are witnessing a double three corrective B wave. Laying out the expected pattern points to a violation of the recent low put in on April 5th of this year at roughly 43.90. Extension levels and retracement points converge …
FED hikes, Dow up $500 ? It’s show time.
Good Morning, As we approach qtr end #2 17′ we see back and forth immediate turns in grains based off my macro trend lines in the Ag’s. Algo’s play these if you look, hashed are longer term and for that type trader. Day trader’s- over line, you buy go home flat but rules here also. Long term- Buy this break …
Currency comment 6/12
Over the last week the U.S. dollar has declined slightly and the Euro FX has firmed. The major story in the forex markets has been the 300 point drop in the British pound over the last three sessions. The main factor in the pound weakness was the dismal performance of the Tories under PM May in the June 8 election. …
Soybeans and Meal: 5th wave Cometh
July Soybeans It appears to me that we have entered the 5th wave of an smaller degree. I have expressed this outlook several times in earlier posts. I look for the contract to unwind to new lows. Temporary support comes in at +/- 920. Target for wave extension checks in at 900 to 895. A rise above 944 negates …
Windy City Jim’s – Daily Trade Recommendations (06/12/17)
Futures Day Trading Signals (Tuesday June 13, 2017) Author: Windy City Jim 312-948-9456 NEVER RISK MORE THAN YOU CAN AFFORD TO LOSE. CALL FOR RECOMMENDATIONS ON PROTECTIVE STOPS. SEE FULL DISCLAIM ON FUTURES TRADING AT THE BOTTOM. WE ONLY ENTER THE MARKET IF THE PRICE HITS THE BUY OR SELL POINT BUY SIGNAL Commodity : July Wheat Previous Closing Price : 434 Projected …
Inflation plays bustling short meats long grains
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. …