September Soybeans A violent overnight spike followed by substantial rejection plays out in the bean market today. Contract peaks above 10225-1026 resistance level discussed in yesterday’s post only to get punched in the chin as prices retrace all gains and decline into negative territory. Cross zone support at +/- 999 gives way in afternoon trading and prices go …
Currency Yen Crosses
Yes of course Walsh covers currencies by ARP for those of you so inclined. It may be I am reaching out to a VIP due to email problems or that some of US are on vacation. Here are a few charts since I looked at these futures. Brazil is also at a small olive indicator so do not get bulled …
Early Week Action: Soybean Complex
September Soybeans The contract looked vulnerable at the end of last week and they showed that by gaping lower to 1004.6 below channel-line support. Prices breakdown to 990.6 peaking below speed support line spoke of in Friday’s posting. Level holds and contract recovers to finish at 1002.4. I believe the structure still points to lower prices. …
Macro Monday
Grains- Weather moderates and grains of course are lower. While there should be a rally into August is my guess right now we have to shake the tree. If Farmers have not sold any grain on that 11% soybean 11 day rally, then you need help. Meats- Watch levels cited were funds head for the exits. Coffee- voice last week …
Weekend wrap
Good Morning Farmers, Commercials and Traders, Part of being a successful trader requires having levels that you confident about, followed by a trading methodology that allows you to shoot bigger with a tighter risk profile. Last month gave a precise example with soybeans where, for instance if you were a 10 lot trader you might buy 5 @ OLB#1 thin …
Weekly Gold Report
Gold finished the week with its biggest weekly gain in two months on Friday. August gold futures settled 1254.9, up $27.10 for the week. September silver settled 1645.5 up .52 cents for the week. The rally this week comes on two fronts. First, a surging euro pushed the dollar to its weakest since June 2016, making bullion cheaper for holders …
Soybean Complex: Recent Technical Developments
September Soybeans The bean market held trend-line support at 999.4 before pressing higher, as suggested, reaching first line resistance at 1018 following thru to post a high of 1022.2 then easing slightly to finish at 1018.2. Continued upside action will test cross zone resistance at +/- 1028. This area marks the extended weekly ATR reading. A close/hold above …
Hog-Dog days ahead?- get a game plan
I have made this clear but here I share some levels going into the weekend. I like to think ahead of time how this will start to look and from that some trading ideas will come from that. Bonds today 3 off high had a sell going into Friday but didn’t even hang in today without dropping back to steady, …
Big Bang Low Risk Trades
Good Morning Farmers, Commercials and Traders, (late grain snapshot playing lines on bottom) Part of being a successful trader requires having levels that you confident about, followed by a trading methodology that allows you to shoot bigger with a tighter risk profile. Last month gave a precise example with soybeans where, for instance, if you were a 10 lot trader …
December Corn: Making Sense of It
December Corn A choppy neutral trading activity seen in today’s market activity. For tomorrow a rise above 399.4 will look to advance. First upside target zone comes in at 404-405. A hold/close above will look to challenge last week’s high 414-417. A break below 391 will look to weaken to test cross zone support at …