The theme today is key resistance holding for several of the markets we follow. Historically, these have been good areas to sell or hedge production. A close above, in my opinion, should be viewed as technically bullish.
Which markets should you be watching?
- Jan Soybeans hold below the July highs, buy the China rumor, sell the fact?
- Nov 2019 Soybeans hold below trend line resistance,
- March Corn hold below multi month resistance at 388-0,
- Dec 2019 Corn unable to push through the 200 day moving average (again),
- July KC Wheat closes right on the 50 day moving average, has not been above since August,
- Feb Feeder Cattle close near contract highs, trend line resistance,
- US Dollar maintains bullish trend line support,
- Feb Natural Gas breaks lower support line, weak
- Crude Oil holds base of support near 50.00
Contact your broker to discuss your trading or hedging plan!
This article originally appeared in the Technical Ag Knowledge Newsletter “Resistance Holds **VIDEO**” at 12/13/18 02:36:36 PM.
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