Here is a formation Ive been watching that I call "hammering" out a bottom. I've seen it first hand in silver, blindsided by it in soybeans, and found it in soybean meal and live cattle while researching this formation... basically its the bottom of a bear run and has a significant move to the upside after the 3rd drive lower fails to make a significant lower low...

You can see they are all a little different but the one thing they have in common is a nice swing up then down (red lines) then 3 hammers trying to hammer out a significant lower low... You can see we are on our 3rd and final hammer attempting to hammer out that last significant low. Looking at the pattern of this low you can see that there is a really good chance of the crop growing in the field to not only over take the $4 sellers of this summer but eventually a significant rally up to $5-6

This can technically still happen even if the price of corn drops down to 3 as you can see from the other formations however I really think a smaller set of median lines is going to catch it here at 3.38

Anyways here is a formation in corn that is getting me pretty bulled up... this is separate from the formation that made me excited in soybeans... part of me wonders about the different formations of these bottoms... some get hammered out like this... others throw a "V" bottom and other patterns I don't know how to describe... I wonder if these are "signatures" of which whale is forming that bottom? I don't know.

some examples first then corn last... dates are clear so you can look them up yourselves... Corn is monthly, the rest are weekly and daily charts


 

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meal.png (54KB - 109 downloads)

Live Cattle.png (58KB - 93 downloads)

silver.png (59KB - 115 downloads)

Soy.png (54KB - 100 downloads)

corn.png (42KB - 113 downloads)