Formerly NE North Dakota, now NW MN | Basically, it's alot of the gobble-dee-guke that myself and some of the other chart guys talk about.
Generally market analysis is broken into two parts- fundamental analysis which is a lot of the breakdown of bushels available, supply..... things physically going on in the market. Guys like JonSCK, 1234, and Sat talk a lot of fundamentals.
Then there's guys the look at charts and try to make sense of a market based solely on it's price action. Thats called technical analysis. Search some posts from Blu and Jpartner as they are almost purely technical analysts. When you hear us talking about "resistance" or "support", that's basically a line we've drawn on a chart (sometimes by holding an envelope up to our computer screen) where we expect price to slow down it's movement or even stop.
Right now, quite a few markets are "over-bought" meaning there's been a rash of buying and it's likely the people buying will slow down soon. Maybe it's speculators buying and they're running out of capital to throw into the market? Maybe it's an end user and their silos are full now? Pure technical analysis pretty much doesn't care who it is, they just say "well price is approaching resistance, and a few other technical indicators (relative strength index for example) are saying we are overbought, so likely the buying will slow down here".
That's not even close to an all-inclusive list of people that post on the various subjects. |
Canola edges higher as technical factors dominate trade
