The Commodity Price Sky is falling........or is it just another natural correction in a bull market for grains?
Below are some charts to help you decide if today's price action was natural in nature, maybe a "head fake to scare producers into sales" or if the tide has turned. My personal opinion is that it is a correction but if we follow up the weakness much more threw these support levels I think I will be jumping on the boat that the rally is over. My thoughts for some time have been to simply manage risk and try not to pick a top; but if I have to pick a top I think it happens a little closer to the June 30th report; much like it did in 2008 and simliar to how the lows where made last year on June 29th.
Make sure you take the my opinion for what you paid for it.
Here are a few charts showing some various support levels and thoughts on where we might be heading from here.
Below are some charts to help you decide if today's price action was natural in nature, maybe a "head fake to scare producers into sales" or if the tide has turned. My personal opinion is that it is a correction but if we follow up the weakness much more threw these support levels I think I will be jumping on the boat that the rally is over. My thoughts for some time have been to simply manage risk and try not to pick a top; but if I have to pick a top I think it happens a little closer to the June 30th report; much like it did in 2008 and simliar to how the lows where made last year on June 29th.
Make sure you take the my opinion for what you paid for it.
Here are a few charts showing some various support levels and thoughts on where we might be heading from here.
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