CommodityTrends Weekly Newsletter

Sunset over a corn field
Grains

Sep Rough Rice has produced both #1 and #2 bottom points. I'm still watching for a 1-2-3 bottom formation to develop.

Dec Soybean Meal has moved too far, too fast without forming the kind of chart pattern I like to trade.


Metals

Oct Platinum has developed #1 and #2 top points. Keep watching for a 1-2-3 top formation to develop.

Financials

Sep 30-Year T-Bond is trading inside the middle of a large triangle formation. Keep watching for a breakout and a possible retrace to the breakout level for an entry.

Meats

Oct Live Cattle has developed a 1-2-3 top formation. A break below the #2 point will trigger an entry to the downside. The initial stop loss could be placed just above the #1 point. The initial target is the monthly chart support level (horizontal line) at 217.025. Keep watching.

Foods/Softs

Oct Sugar #11 has formed a 1-2-3 bottom. Another long entry was triggered on August 08, when price broke above the August 07 high. The initial stop was just below the #3 point. The initial target is the blue horizontal resistance level at 17.27.

Price hasn't yet reached the target of blue horizontal line at 17.27. After a nice run to the upside earlier this week, price has sold-off. Because of the move back down, consider moving the stop loss up to a couple of ticks above the entry price. 

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