COCOA - Continues the decline and should trend lower for an extended period of time. I still expect a fast string of bloodbath down days as the exit from positions is made in haste.
CORN - Corn seems to be stuck in a trading range after part of its decline. While it could break out of the range to the upside, that price potential is severely limited and opens the door for selling once again. A breakdown to the downside could lead to a climax low with panic selling and huge volume. Keep in mind that if this does happen it will still be only the first leg completed for the decline.
SUGAR - Continues to drift lower and still is not even close to giving a hint that the trend is going to transition. Sugar does have some excellent upside potential, but certainly not until a solid trend change confirmation is in place. Stay tuned to this one!
CRUDE OIL - The resistance I spoke about yesterday held very nicely t $66.20 and the market moved sharply lower. I anticipate a continuation of this decline in crude oil prices.
LEAN HOGS - Please take a look at the new post I made today regarding the condition of the Hog Market, it has some real selling opportunity.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment