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Buxton ND | Kst we've already blown thru those retracements on the move lower. You need to clear/redraw them using July 14th high to yesterday low for a move upward (this be if yesterday's low holds next week)
Using ZCZ the gaps @ 4.00
38% 4.05
50% 4.15
62 % 4.25
With another gap @ 4.29
ZCU numbers are roughly .10 under these levels.
The 3 highest selling volumes periods in corn this week were Sunday's nasty open. (that was panic selling) Monday morning 8:30 open and today's close. Toss in the charts making a bear flag and it reads weak. I would be slow lifting hedgies at this point in time. There's one mistake I've made many time in nearly the last 3 years is lifting hedges before the time (time being shutting the end gate)
Monday is the start of a new month, many times new money comes in to start the month,,, it just needs to be BUYING MONEY not selling. | |
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I'm no technician but something I've noticed
