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Beans fail again at 10.60?
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djmcountryboy
Posted 12/5/2016 20:35 (#5678548 - in reply to #5677616)
Subject: RE: Beans fail again at 10.60?


Mascoutah, Illinois
Bounced off of $10.23 support on Thursday.

Made higher high and higher low on Friday.

Same today.

Beans closed at $10.43 right on support level.

No need to get unnerved until we breach $10.23 to the downside.

OVERBOUGHT!!! YOU BET!!!

I would imagine the "hot" money chases beans along with copper until we get towards the end of the month.

If tax policy changes as most believe, why take profits if you can book them at a lower tax rate in 2017?

The beginning of 2017 could be quite shaky in commodities and equities if gains are booked believing lower taxes are just a vote away.
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