Thursday, 16 August 2012


 The aboev chart may not make sense to you but the lines are historical pitchforks from weekly/monthly time frames.The same chart is displayed below with log scale. See the difference? Notice also the gaps are often around the ML or reaction lines (red)...see the support/resistance offered by the lines. This is in effect true and orgainc market structure and makes far greater sense to trade these levels than pivots.
 Here below we have the CFD chart as per MT4 -again with historical PF's plus some local time frame PF's and all the reaction lines(again in red). I do not know if we will break out this time to the mid 830's upwards and we may cycle along this range once or more again. The bottom line is that to position yourself  long ( in outright futures) for the coming global food price rises you need to watch this range and see if  770 holds.

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