Good morning traders,
The following represent my opinions and technical levels based on the olive line. Current events are playing out live.
The quarter end can be a volatile time , I always recommend using stops. Always be willing to take profits, thats your money and how you get paid.
Some thoughts and hopefully helpful advice.
LIVESTOCK
LCZ OLS(SELL) 117.40 level is a big level for me. A close above this level could indicate a larger move. Perhaps a open buy stop. Call for specific prices
FCX There could be a top at the OLS represented. The back month OLS (sell) is at higher levels,so be patient. Call for specifics
GRAINS
CORN This is a 4 diamond real time olive line indicator. 343.5 and 347.5 were olb (buys)
resistance to the upside is 3.61 and 3.75
BEANS south dakota cash as low as 6.20, could this be a low.
nov 8.50 is the level if you are looking for a pivot, then 842, remember to use stops
WHEAT The wheat sold off late ,not out of the woods. 5.25 is the weekly olb. If you get quick moves that are profitable into month end. Take it off the table.
use stops We will wait for more olive line extremes.
BEAN OIL The 27.31 level held. This was a olb last thursday. Buy a potential retest. call for more b oil levels.
FINANCIAL
PALLADIUM OLS (SELL) is live now and this is the 7th week off bottom of 8.16. Back under 8.40 may take us down to a green olive level.
BONDS the bonds have held the 139.23 so far. As mentioned yesterday this is a key level.
CRUDE I have nothing live at these levels
The big macro events are on notice. The repatriation money will flow and potential investment creates movement. We will look for opportunity.
ARP out
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