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SE ND | This is what I'm watching right now. We had sellers stair step price down until it met the LML of the current weekly controlling fork, the "island bottom" as some called it. Price busted a few of the minors on the pullback. Price ran to $4, then created a larger wash, the following minor swing failed to make a HH, and price was then ready to head lower, which it did on report day. Zoom bar through the LML, and price has slowly been working it's way up to the LML from the bottom for a retest. Slowly is the key, as it has been restoring energy once again. Time must equal price at some point. Price has yet to meet the ML that JP shared with us last week. This last swing failed to make a LL, and that area is now likely to be taken out. Imo, what is going on here now is very similar to the larger daily move from last fall now. The failed swing lower was taken out by the explosive rally to the ML of the pullback fork, and once there price turned and headed quickly lower. Personally, I feel that ZCZ has a good chance of putting in a "C" around 3.88 give or take a few cents. Whether or not this turns out to be the end of this rally/retest, idk. IMHO, it could likely be. We will know soon enough.
 (ZCZR.png)
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 ZCZR.png (78KB - 58 downloads)
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Corn still looks bullish, beans look
