Dear Charlie et. al;
I was reading Darin Newsom on Dtn:
A good point was in part:
"Because markets are now broken up by only short daily intermissions, daily chart signals have been made irrelevant. Weekly charts are now what daily charts used to be, reflecting the thought process and influences of one long, largely uninterrupted weekly session. And with not as much focus paid to traditional technical signals (e.g. key reversals, head-and-shoulders tops, etc.), the spotlight has been turned up on the old adage of "the most important price is the close". Now, that is the weekly close."
With $20 beans a real rational objective in this situation... the 2:1 ratio between Beans and Corn... leaves us with $10 Corn.
Not at all unrealistic in the next 6 months... but so is $6 Corn and $12 beans... which brings us to $8 wheat... and $12 for the up side.
Just a thought...
I was reading Darin Newsom on Dtn:
A good point was in part:
"Because markets are now broken up by only short daily intermissions, daily chart signals have been made irrelevant. Weekly charts are now what daily charts used to be, reflecting the thought process and influences of one long, largely uninterrupted weekly session. And with not as much focus paid to traditional technical signals (e.g. key reversals, head-and-shoulders tops, etc.), the spotlight has been turned up on the old adage of "the most important price is the close". Now, that is the weekly close."
With $20 beans a real rational objective in this situation... the 2:1 ratio between Beans and Corn... leaves us with $10 Corn.
Not at all unrealistic in the next 6 months... but so is $6 Corn and $12 beans... which brings us to $8 wheat... and $12 for the up side.
Just a thought...
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