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South Central Iowa | Thanks for taking time to share your thoughts Partimer! I enjoyed reading them. On soybeans themselves would you see a move lower to start the week as invalidating your thought that we extend? I took some profits out of shorts Friday because it felt like a bottoming of the pullback to me; successive down days, shrinking daily ranges, settle above some minor trend lines, the 78.6% fib (of the whole $9.34-$10.80 move), as well as the gap area (which filled). Decreasing volume as we moved down made me feel there was little interest to selling. But I was originally looking at a pullback to the $10.20's and I know Andre54 felt it was setting up weak. What are your thoughts on a greater pullback? And do you believe that would cancel that $.56 move? | |
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market commentary-beans, oil, cattle, hogs
