The new contract low for Jan Rough Rice was made yesterday at 10.440. Keep watching.
Dec Soybean Meal has a #1 bottom point at 270.10 (the low on Oct. 01). Its #2 point is 282.00 (the high on Oct. 03). The #3 point is 273.00 (the low on Oct. 15). Last week I wrote: "Long entries can be considered at current levels. The initial stop loss can be placed just below the #3 point if comfortable with the risk. The initial target is the blue horizontal resistance line at 288.8."
Price moved as anticipated and hit the initial target on Oct. 22. If trading additional positions, stops can be moved to just below support of the same blue horizontal line at 288.8.
Dec Wheat produced a #1 bottom point at 492-2 (the low on Oct. 14). Keep watching for all of the 1-2-3 strategy criteria to be met.
Jan Platinum made a #1 top point at 1,770.0 (the high on Oct. 16). Keep watching for all of the 1-2-3 strategy criteria to be met.
The #1 bottom point for Dec Natural Gas is 3.595 (the low on Oct. 17). The #2 point is 4.139 (the high on Oct. 22). Keep watching for all of the 1-2-3 strategy criteria to be met.
The #1 top point for Dec Live Cattle is 248.300 (the high on Oct. 16). Keep watching for all of the 1-2-3 strategy criteria to be met.
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