SE ND | Hurricane - 12/2/2018 06:28
I'm just looking at the March contract. I'm not an expert by any means. Daily chart.
That's alright. I didn't mean to be critical at all, just wondering what you were looking at.
I can see what you are getting at, but take it from me-- context is everything with formations. Right now you have weakness projected by the minor pullback fork and the last minor controlling fork also hagopianed. So, the market is horizontal. This can lead to rallies, but most likely price will run into problems when it encounters structure, or even failed structure as again, price is going sideways. On March, the pullback fork ML remains at just above $4. And wouldn't you know it, that previous structure is right there as well....it isn't by chance...price doesn't make mistakes. The initial test would likely be at 3.90, and a failure there opens the door to the probable path of price--the ML.
Formations get all the attention, but it all comes down to structure, in my opinion.
Edited by NoDakFarmer 12/2/2018 18:46
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Head and Shoulders bottom in corn?
