The daily charts look a lot like they did on Tuesday, as traders appear hesitant for the time being to break out one way or the other while lacking significant market data and/or news on China trade.
With that said, it can be helpful to look at the markets from a different angle and different time frame. Sometimes that confirms what you were thinking when looking at your usual price chart, other times it may contradict and give you reason to think about other factors you may not have previously considered. Today, we’re taking a look at the WEEKLY price charts in corn, soybeans, and wheat. We’re also going to look at the bull trend in cattle, the breakdown in summer milk contracts, and a widening of the March/July corn spread.
Contact your broker to discuss your trading or hedging plan!
This article originally appeared in the Technical Ag Knowledge Newsletter “A Different Angle **VIDEO Chart Analysis**” on 01/24/19.
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