|
Central Missouri | Everything I’m about to post could be totally wrong!
The majority of the bean price increase over the last months has been due to bean oil. It is reaching its median line. If it decides to back off what holds beans up? Rsi is very high on bean oil.
There was bearish macd divergence on the August bean chart as indicated by the red and green lines and the macd crossed lower a week or so ago.
So is in a precarious position. If it breaks below the sliding parallel odds are it will go lower. I bought a bunch of 8.40 puts this morning. Cheap and cover the time period I need. Gonna need a pretty big move to make them pay. Market can be shorted with stops over recent highs for a low risk short.
I could be wrong on all this.
Edited by ehoff 8/4/2020 07:06
(2D9E1E04-7A41-4070-A3CC-A583199C1FC2 (full).jpeg)
(46845D86-FF45-47AC-A267-61933338B583 (full).jpeg)
Attachments ---------------- 2D9E1E04-7A41-4070-A3CC-A583199C1FC2 (full).jpeg (96KB - 109 downloads) 46845D86-FF45-47AC-A267-61933338B583 (full).jpeg (144KB - 150 downloads)
| |
|