Beans Bouncing?

Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.

July cotton
CTN1 |
Quote |
Chart |
News |
spiked to two-week plus highs but reversed to close
poorly. This action suggests its longer-term downtrend remains intact. Look for
a shorting opportunity here.

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For you bottom fishers, July beans
SN1 |
Quote |
Chart |
News |
reversed after approaching
life-of-contract lows on Wednesday. Begin watching for a buying opportunity

Best of luck with
your trading on Thursday!

face=”Arial, Helvetica”>Dave Landry

P.S. Reminder:
Protective stops on every trade!

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