Antsy bulls stormed out of their pens on Sunday night following the 90 day “tariff truce” announcement between The US and China. As emotions calmed down, I believe large traders are more hesitant to follow the herd until more details are known and/or actual trade exchanged.
Futures Market Analysis for December 4
- US stock markets retreat aggressively from trend line resistance,
- Crude Oil breaks through its steep 2 month bear trend line resistance, longer term trend shift?
- US Dollar barely holds on to its upward trajectory as “risk off” Tuesday attracts demand
- Soybeans present present best marketing opportunity since late July/early August
- Corn holds within its longer term neutral trading range, short term support at the major moving averages
- Wheat remains near lows for the year, fundamentals support?
- Cattle producers have opportunity to hedge oversold March Feeder Cattle, best price since June
- Live Cattle close above 50 day moving average for 1st time in a month, more up?
- Natural Gas coiling up within a large pennant formation.
Contact your broker to discuss your trading or hedging plan!
This article originally appeared in the Technical Ag Knowledge Newsletter “VIDEO Chart Analysis for Dec 4” at 12/04/18 03:29:54 PM CT.
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