Three new positions in the commodity trading account today.
Out of the three, the Soybean Meal has the highest probability.
Notice the wide spread smart money selling (Blue Line) and the outside day (Higher High, Lower Low). The outside day pattern in the Meal has a high probability of forecasting lower prices.
While I am being quite aggressive with my exposure to the grains, it is looking more and more to me that the entire complex wants to work lower!
We do need a sharply lower day in the next couple of days here to really confirm the change in trend. Without this confirmation I will have to square my positions, lick my wounds and wait for Cotton!