posted 052717

I started working on Bean charts Sat morning - thinking I had nice long weekend to do them.
Well, Weekend is over and Monday is basically spoken for -so I guess I'm done.

I dove into the beans and came to a fairly negative conclusion.
I am prepared now to be proven wrong as beans do so often.
Actually - I am hoping to be wrong and they turn here in a false BO pattern and redeam themselves.
If they do - then this post is of little value - and may not be worthless.
But since I prepared it  - just as well share it - so take it fwiw.

Comments start on weekly and continue on daily - but refer to some daily action at the beginning.
I hope it's not too confusing

As far as corn goes - Px still working the TR. One can put a negative or positive spin on it -
but until it actually breaks out - it's just a guess. 

My guess is we break higher abo 380 towards 400+
If beans go negative - it may take longer for corn - past Jul 4th -
- influenced by hope phase again

>>>>>>>>>>>>>>>>>>>>>>>>>>> Comments and charts posted Sat morn
Took long look at Beans today as it appears We are seeing a BO lower at end of week - unless this is a false BO on a long weekend
I had expected Px could hold the 2016 lows w/ the 929.75 Spike on April 11. The bottom line is -

This week's Bar low clo into new lows looks pretty bearish - Unless Px possibly redeams itself soon by a false BO confirmed by clo back abo 930-950
Px looks now to test the Sep 2015 - Feb 2016  TR  prob Nov-Feb 16 lows 844-850 -  expect a print of 850 min.

I prepared daily + weekly nearby bean charts.
Comment got rather legnthly as I decided to take indepth look at the action begining
Mon Jan 9th leading to the false break-out upside to 1080 - then reversing from there - lower all winter unto today

comments start on weekly chart and continue onto the daily

https://www.screencast.com/users/tntfarm2/folders/Charts%202017

I find it necessary to review the Px action over and over if I  hopefully to be able to spot it the next time.
As long as I have to go thru the process - thought I'd just as well share  - maybe someone else will benefit.

Hope everyone enjoys the long Memorial weekend