WEAT
WEAT backed off @ the dMA(200). Is this HOR.BT at the blue line sufficient and time to back-up the truck on WEAT? Or will we see a lower BT on the Black Bull Flag while Fillin the GAP @ 6.07. The latter is possible as we have several cycle lows in several commodities due next month; cycles not presented here,
IMO.DYODD.
https://twitter.com/richmarketguy/status/1673652383748960256
its on mother nature to decide.
Today’s lo is halfway back this last range. See if it holds.
Wheat is moving down with soy beans, corn, rough rice.
https://finviz.com/futures.ashx
Yes, it is possible we can see next 1-2 week weakness for commodities.