In our last video, we set the table for how the price pressure into delivery/first notice day looked in past months and the potential for bounce back in the days following. Are we beginning to see that similar pattern play out again in corn? We’re discussing that in today’s video, as well as:
- A closer look at Commitments of Trader data, now current through Feb 26,
- The “bullish hammer” reversal candlestick in Corn on Friday,
- The dragonfly doji” reversal candlestick in Wheat on Friday,
- Potential short and long term targets for each,
- 100 day moving average looks to be an important support level for new crop soybeans,
- Large speculators historically long cattle, bull trend still intact but risk of long liquidation pressure?
Contact your broker to discuss your trading or hedging plan!
This article originally appeared in the Technical Ag Knowledge Newsletter “Corn/Wheat Correcting **VIDEO Chart Analysis**” at 03/05/19 03:38:04 PM Central Standard Time.
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