This is a sample entry from Tom Dosdall’s newsletter, Technical Ag Knowledge, published on Tuesday, June 17, 2018.
Are Soybeans and Corn Close to Breaking Through the 50 Day Moving Average?
Soybeans closed higher for a 2nd straight day today. The last time that happened was May 22-23 when the price on November futures was 10.4850! Two dollars and -19% later, we finally see buyers showing some interest again. In addition to this, in today’s video we’re taking a look at:
- The KEY 50 day moving average level on the 240 minute charts. Corn and Soybeans have not spent any meaningful amount of time above this moving average since the lofty prices seen at the end of May. Are they close to breaking through now?
- A closer look at the burdensome US soybean ending stocks scenario
- 2018/19 Corn stocks to usage expected to be tightest in 45 years (assuming trend line yields)
- KC Wheat resistance above a the 200 day moving average
- August Cattle has defined a channel with trend line support/resistance
- Crude oil drops back to its critical support area near the 100 day moving average and holds.
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