These charts may look confusing and i agree about this point particularly in higher time frames but these charts with multiple forks and their RL/WL's enabled me to identify the recent reversal levels at important RL's long before any other potential method i know. link1, link2 , link 3, link 4
The bottom line is that in 15, 30, 60, 120 mins these charts are uncluttered and remarkably accurate.
So, What now? I think Rice would look cheap at 1280-1300.00 , Wheat on the LMLP at 725-00 and if it holds above 700-00 and if corn holds above 600 to 650-00 then perhaps that also . Regardless of what fundamentals are peddled around global demand must increase and we all have to eat (and 1.3 billion Chinese regardless of Interest rates).
Should we see a sustained fall in these contracts i will look to build a position either as a futures spread or options.
Wednesday, 23 February 2011
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