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Central Illinois | If you are a true chart technician and you agree that 7.79 was the top and 5.72 was the nearby low then you look at retracement levels of 38.2%, 50% and 61.8%. Difference of the above is $2.07 so that give objectives of the following:
38.2% = 6.39
50% = 6.75
61.8% = 6.99
I believe most computer models that the "money" use look at retracement levels and overbought or oversold conditions. I am in no way stating we go back to the above levels just giving you some facts on retracement areas to look for. | |
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Chart junkies where to now in corn???
