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.
Subscribe to Technical Ag Knowledge
Technical Ag Knowledge - Whether you’re a producer, end user, or trader in the agricultural commodity markets, “Technical Ag Knowledge” will provide you with a crucial awareness of key technical price levels each week so you can manage your positions with conviction and confidence.
Technical Ag Knowledge includes an email newsletter subscription.
Risk Disclosure
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.
