Indicators on larger (weekly, monthly) timeframes are very much elevated and overbought.
CoT levels continue to be extreme with Commercials record short and Large Specs record long.
An accident waiting to happen imo.
I`m looking to enter short in the next couple of days.
Watch out for the prospective plantings report on March 31, this may be the trigger.
Keep in mind that even tho world stocks are expected to decline next crop year, overall world stocks are still very high. ~50% higher then in 2000
My target area is around 70.
CoT levels continue to be extreme with Commercials record short and Large Specs record long.
An accident waiting to happen imo.
I`m looking to enter short in the next couple of days.
Watch out for the prospective plantings report on March 31, this may be the trigger.
Keep in mind that even tho world stocks are expected to decline next crop year, overall world stocks are still very high. ~50% higher then in 2000
My target area is around 70.