CommodityTrends Weekly Newsletter

Dec Corn has produced a new #1 bottom point at 425-6 (the low on June 30) inside of a weekly chart support zone (and at a monthly chart support level). Keep watching for all of the 1-2-3 strategy criteria to be met.

Dec Soybean Oil has a #1 top point at 74.55 (the high on June 03). Its #2 point is 64.62 (the low on June 18). The #3 point is 67.68 (the high on June 29). For more information about this setup, please refer to my Daily Video. If I decide to trade it, I will provide my entry, stop-loss and target levels there.

Sep 10-Year T-Note formed a 1-2-3 bottom that has since turned into a channel. I am now watching for a breakout from the channel.

If a breakout occurs, I will look for price to retrace back to the breakout level. If that happens, I will consider a possible entry at that time.

Oct Sugar #11 has moved up to the downtrend line of its large triangle pattern. Price briefly broke out to the upside but encountered resistance at the purple monthly chart horizontal level.

I will continue watching for a possible breakout. If price closes outside the triangle and then retraces to test the breakout level, I may consider an entry at that time. For now, I will remain patient and keep watching.

Stubhub Holdings Inc Cl A (STUB)

Three week's ago I wrote the following: STUB just triggered an MET entry to the upside. The initial stop loss can be placed just below recent lows. The initial target is the daily chart resistance level at 12.56. 

Price hit the initial target on June 29. Stops on any remaining positions can be moved to just below the low of June 29.

Fortune Brands Innovations Inc (FBIN)

Has rallied nicely and is currently at the bottom of the monthly chart wick zone. A MET could be triggered on a break of the circled price level. For more information about this setup, please refer to details in my Daily Video. If an entry triggers I will provide the stop-loss and target levels there.