Corn Again?
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.
March corns
(
CH1 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, gapped higher on Tuesday’s open but reversed to close poorly. This
action suggests that its meltdown remains intact. Look for a shorting opportunity here.
face=”Arial, Helvetica”>
February gold
(
GCG1 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still looks poised to resume its downtrend. Continue to look for a shorting opportunity here.
March unleaded gas
(
HUH1 |
Quote |
Chart |
News |
PowerRating),
mentioned recently, still looks like it has the potential to rally out of a
pullback. Continue to look for a buying opportunity here.
Looking Ahead
Bonds
(
USH1 |
Quote |
Chart |
News |
PowerRating) formed a bearish outside day down and took out recent support on
Tuesday. They may be worth watching for a setup on the short side over the next
few days.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!