CommodityTrends Weekly Newsletter

Sunset over a corn field
Grains

Sep Rough Rice made a new 12-month low today. I'll keep watching from the sidelines for a pattern to develop.

Dec Soybean Meal developed a new #1 bottom point this week. Keep watching for a 1-2-3 bottom formation to develop.

Metals

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

Currencies

Sep British Pound has developed a 1-2-3 top formation. The break below the July 25 low (on July 28), triggered an entry to the downside. The initial stop loss was placed above the #3 point. The initial target was blue horizontal support level at 1.3174 - which was hit today (August 01). If trading additional positions, consider moving the stop loss to just above today's high. 

Meats

Oct Live Cattle has produced a #1 top point. Keep watching for a 1-2-3 top formation to develop.

Foods/Softs

Oct Sugar #11 has formed a 1-2-3 bottom. The break above the #3 point on July 25 (by one tick) could have triggered an entry to the upside. The initial stop is just below the #3 point. The initial target is the daily 50% level (17.88). On July 25 I wrote. . . "If not yet paper trading this market, consider waiting for a break above today's high to trigger an entry." This occurred on July 29. The stop loss and target can be placed at the same levels mentioned above.

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