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SE ND | That is the problem with vertical price action. They lack structure, and the pullback can be pretty ugly. Honestly, nothing technical, but simply judging from the fact that everyone has given up wanting to be long, we could be very close to a pivot. I thought the low was in last month, but it obviously wasn't. Doesn't change my mind on another rally this winter. Unless these sellers can make new lows, price will likely be retesting the high and probably trading above it. JMHO | |
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Spring wheat-days to zero?
