CommodityTrends Weekly Newsletter
To allow more time for an opportunity to develop, I'll switch from watching Nov Rough Rice and will now watch Jan Rough Rice. It's new contract low was made today at 10.805-just below a weekly chart level of support. Keep watching for all of the 1-2-3 strategy criteria to be met.
Dec Soybean Meal has a #1 bottom point at 270.10 (the low on Oct. 01). The #2 point is 282.00 (the high on Oct. 03). The #3 point is 273.00 (the low on Oct. 15). Long entries can be considered at current levels. The initial stop loss can be placed just below the #3 point if comfortable with the risk. The initial target is the blue horizontal resistance line at 288.8.
Dec Wheat produced a new #1 bottom point is 492-2 (the low on Oct. 14). Keep watching for all of the 1-2-3 strategy criteria to be met.
Jan Platinum made a new #1 top point at 1,770.0 (the high on Oct. 16). Keep watching for all of the 1-2-3 strategy criteria to be met.
To allow more time for an opportunity to develop, I'll switch from watching Nov Natural Gas and will now watch Dec Natural Gas. Its new 12 month low is at 3.595 (the low on Oct. 17). Keep watching for all of the 1-2-3 strategy criteria to be met.
Dec Live Cattle new #1 top point is 248.300 (the high on Oct. 16). Keep watching for all of the 1-2-3 strategy criteria to be met.