SE ND | JC STONE - 9/6/2017 03:33
What do you mean "everything" points to higher prices. Not trying to put you in a box ,or gotcha . We need to clear 10.32. Show us how we get beyond that. There are supposed to be signs months in advance , what are they?
That's a good question, and I was very vague on that. The overall context of price suggests that there is another drive higher looming. So last year we rallied to $12, those sellers should have confirmed by making new lows. Thus far, they have failed to do so and that suggests that price should , at minimum, retest that $12 area. The November bean chart formation also projects higher up to that area stated before. There are many moving parts such as that sliding parallel from the downsloper that has been telling us for a long time (years) that price was likely to leave that fork. Even this last swing from the rally high into mid July has failed. All the bearish talk of yields and whatever else, and price failed to make new lows. That is now a failure, which now opens things up to a potential big move. Is it a given that price will do what I expect...no! Could I be missing something...yes! Sometimes you just need to trust your work. Took me many years to totally grasp how hard this is, but I'm becoming more confident even if it's through mistakes that also become more clear.. such as with corn the past couple months.
Are there signs months in advance...more than that years...decades. You truly won't see it till you want to. Sounds crazy, but I've gone through it. |
New crop beans.
