Here is a
peculiar problem which is one of the banes of my life. In the down sloping blue fork in the 15 min
TF price is above the
UMLP yet in the
5 min chart it is still under the
UMLP. Yet ignoring this fact we still have a third 'touch n run/reverse' on the blue CL on the 60min chart( see bottom chart) now we have a 61.8% Fib RT from the earlier move up to 672-00 after testing 645-00 last Friday/this Monday. Most Grain commentators are saying "sell the rallies" as the fundamentals (of supply/harvest etc) can't support current price levels. They maybe correct and the local pit traders are putting a lot of pressure on-
but the chart pattern showing right now says to me... higher. Today will confirm to me if we are indeed going higher or lower and with that in mind i am watching for a break down towards the red
LMLP and then lower which would indicate another test of the blue CL.
Here is a peculiar problem which is one of the banes of my life. In the down sloping blue fork in the 15 min TF price is above the UMLP yet in the
5 min chart it is still under the UMLP. Yet ignoring this fact we still have a third 'touch n run/reverse' on the blue CL on the 60min chart( see bottom chart) now we have a 61.8% Fib RT from the earlier move up to 672-00 after testing 645-00 last Friday/this Monday. Most Grain commentators are saying "sell the rallies" as the fundamentals (of supply/harvest etc) can't support current price levels. They maybe correct and the local pit traders are putting a lot of pressure on- 
but the chart pattern showing right now says to me... higher. Today will confirm to me if we are indeed going higher or lower and with that in mind i am watching for a break down towards the red LMLP and then lower which would indicate another test of the blue CL.
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