This is a sample of Brian’s email newsletter, The Cullen Outlook. This is the Pre-Dawn Targeting portion for Wednesday, October 28th.
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Time to ring the mid-week bell! We have the FOMC announcement at 1:00p this afternoon.
CHART OF THE DAY:
December SOYMEAL: (ZMZ5)
This is a basic play off of some recent support. I like the idea of going LONG if we can get back down to the 302.0 – 300.0 level. If the recent support can hold and we get the bounce we are looking for, perhaps we stay inside this channel for another week. The risk isn’t far below support, 295.0 would be plenty. For a target, look for 310.0 to start and 318.0 after that which is the top of the channel.
(see SOYMEAL chart below)
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