This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Formation Finder portion from May 24th.
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July SOYBEAN OIL:
On Thursday we were looking at the recent support not holding and the 2 trendlines that were breaking…(see 5/19 post, chart below).
For those who are involved in this idea, you may want to consider updating your stops at this point or checking in on any put options you bought.
Targets still remain at 30.30 and 29.50
*** If you did not choose to get involved in this set-up, it is important to at least go back and check in on the pattern that was mentioned for a few different reasons… ***
- The set-ups that we see are not unique to any particular markets.
- A formation you see in one market can potentially present itself in another at some point down the road.
- It can be helpful to recognize price action when formations are happening so you can be better prepared the next time a certain set-up is noticed and pinpointed in whatever market it happens to pop up in next.
Have a look:
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