Heart of Ohio | Just some quick back of the envelope math, feel free to take issue with the numbers. My charts show a Dec 22 contract low of 3.69 on 06/26/20, recent high of 7.55, for a rally of 3.86 so far. We are entering the historical time frame of common contract highs from now through July. Market currently trading at 7.16 as I type this, given above numbers and IF 7.55 proves to be high for the contract, selling at this moment puts that sale in the upper 10% and sales all the way down to 6.39 would still put one in the top 1/3. IF we go the other way (up) a 7.16 sale would still be in the top 1/3 up to a price of around 8.31. Personaly I'm sensing it's time to draw some lines in the sand if you haven't already. A bunch of spec money has flowed into commodities, it will leave much faster than it arrived.
edit to add Nov. 22 beans contract low of 8.40 on 4/20/20 recent high 15.55 a rally of 7.15, others can do the math.
Keep calm, Market on.
Edited by Frisky3208 4/25/2022 04:40
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