Monday, December 17, 2007

Soybean Meal - Step One Completed Today

Soybean Meal broke the ascending triangle on the stochastics today that we spoke of over the weekend.

If this pattern is valid then we should see sharply lower prices almost immediately.

I believe this collapse in prices should carry across the entire grain complex, but only time will tell us.

As it is, if we start to see the meal begin to crack under the technical pressure then it will be time to put on a sizable short position.

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