finally, dxy and oil decided to give some room for ag commodities. my expectation for a c wave may be under way. for those trading short term, a buy at today’s high could yield some profits on the way up. if you like gaps, one more reason to start drawing your strategy. for now, I am keeping my long.
Soybean has been a tough market for those traders seeking volatility as it has been on a “wait-and-see” mode for a couple of month now. I do not expect any major movement on the short/mid run; however, I do see a possibility to “widen” the current trading range. The wave counting above suggests that a B wave would be completed (or nearly completed) and a possible...
(Forgive the terrible joke, but I couldn’t hold myself). The 50% retracement on Corn suggests that a minor correction would be over making possible an “a-b-c” counting thus getting ready to resume the upward trend. However, at this point in time, it would be wise to keep an alternate count in sight as this correction could easily (and most likely, in my opinion)...
This long term top performer is now safely into uncharted territory.and appears to be a low risk BUY.