|
| Here's that same chart with a little different look. It would seem we are at an interesting point in price&time. So far, all we have done is to rally and test the linear regression trend line that was drawn some time ago. We should be right on good support, judging from the S&R lines that sure seem to hit important areas. IMHO, we need to see some strength soon to counter the bearish look of this chart.
Now, *if* we take out this support and head lower, I'll post a second chart here that might make that old saying "cheap is half-way there" come true. This would seem to be worst-case scenario, IMHO. This could easily unfold if we do see a rally into February, and then have expectations of normal type weather for summer. *If* prices are high enough next month, production expectations will be locked in stone - at least until weather worries come along.
Should we pray for a falling market into February?
 (c dec s&r.png)
 (c2 dec s&r.png)
Attachments
----------------
 c dec s&r.png (86KB - 42 downloads)
c2 dec s&r.png (72KB - 37 downloads)
| |
|
Drought and the Spec Funds
