Bullish clues:
- Strong uptrend in the commodity markets for a few years
- Double bottom last week
- Kind of a morning star candlestick pattern
- Above the neutrality zone on the Relative Strength Index (RSI > 50), with a strong support
- The 200 Exponential Moving Average is a good support
- Strong rebond on the Kijun-sen (Ichimoku indicator)
- Switch of the Kumo (Ichimoku Cloud) where the price can easily cross. If the price cross it, it will also cross the 50% Fibonacci retracement level.
BUT, PAY ATTENTION TO:
Bearish clues:
- Bearish divergence on the Relative Strength Index (RSI), but not in the oversold or overbought zones, so not so important
- Bearish oblique resistance from end of November 2021
Objective:
My first objective is $8.20 per bushel, the last swing high, reached on December 27, 2021.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
- Strong uptrend in the commodity markets for a few years
- Double bottom last week
- Kind of a morning star candlestick pattern
- Above the neutrality zone on the Relative Strength Index (RSI > 50), with a strong support
- The 200 Exponential Moving Average is a good support
- Strong rebond on the Kijun-sen (Ichimoku indicator)
- Switch of the Kumo (Ichimoku Cloud) where the price can easily cross. If the price cross it, it will also cross the 50% Fibonacci retracement level.
BUT, PAY ATTENTION TO:
Bearish clues:
- Bearish divergence on the Relative Strength Index (RSI), but not in the oversold or overbought zones, so not so important
- Bearish oblique resistance from end of November 2021
Objective:
My first objective is $8.20 per bushel, the last swing high, reached on December 27, 2021.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.