Preparing For Harvest
Marc Dupee will be out of the
office until April 9. In his absence this column is being written by
TradersWire’s Duke Heberlein.
May wheat
(
WK1 |
Quote |
Chart |
News |
PowerRating) and corn
(
CK1 |
Quote |
Chart |
News |
PowerRating) are up this morning, but pulling back from their recent contract lows.
Short players could look for an opportunity here.
Â
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Cocoa
(
CCK1 |
Quote |
Chart |
News |
PowerRating) is
continuing to slide out of a failure out of an inverted head and shoulders. Keep
looking for continuation entries if downside pressure continues.
Finally, unleaded
gasoline
(
HUK1 |
Quote |
Chart |
News |
PowerRating), off the Momentum-5
List, gapped higher on the open after surging higher the last two days, a
momentum gap in the direction of the trend. Watch for continuation, as
fundamentally, stocks are down much more than expected and refineries are
experiencing outages.