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Mascoutah, Illinois | over the years with charts is when the 50 day crosses the 200 day, the move higher is normally 25% from this point of inflection. It appears the point of inflection on the chart was $12.75ish. If you multiply $12.75 and 1.25, you end up with a target of $15.94 which would coincide with some of your commentary. It appears someone tried to get cute and short September beans and got their hand caught in the cookie jar at expiration. I agree with your comments at $14.09, $15.03, around $16.00 and ultimately somewhere between $16.50-$16.60. Basis is already plus 30-40 cents in the St. Louis area with some antsy buyers.
Thanks for the charts. How long does it normally take for you to do this exercise each week? | |
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charts posted
