CommodityTrends Weekly Newsletter

For Jan Rough Rice, the new #1 bottom point is 10.010 (the low on Nov. 20). Keep watching.

For Mar Wheat: Its #1 bottom point is 508-4 (the low on Oct. 14). The #2 point is 568-0 (the high on Nov. 05). Last week I wrote: The #3 point is 541-0 (the low on Nov. 7). A retrace into the blue zone could provide a possible long entry via a Fish Hook pattern.

While price did retrace into the blue zone, it did not develop a fish hook pattern. In fact, price broke lower and potentially making today's low a #3 point, but we'll need to see confirmation via a candle with a higher low. Keep watching for all of the 1-2-3 strategy criteria to be met.  

Jan Platinum made a new #1 top point at 1,770.0 (the high on Oct. 16). The #2 point is 1481.20 (the low on Oct. 22). The #3 point is 1666.40 (the high on Nov. 13). 

Last week I wrote: A close below the green uptrend line could trigger an entry to the downside.

An entry to the downside was triggered on Nov. 20. Depending on risk tolerance, the initial stop loss can be placed just above the Nov. 19 highs. The initial target is the monthly chart 50% level (purple dashed-dotted line) at 1435.40.

Mar Cotton #2 made a new potential #1 bottom point today at 63.11 (at the time of this writing). Keep watching for all of the 1-2-3 strategy criteria to be met.

Jan Orange Juice made a new potential #1 bottom point today at 143.25 (at the time of this writing). Keep watching for all of the 1-2-3 strategy criteria to be met.

Mar Sugar #11 produced a #1 bottom point at 14.04 (the low on Nov. 06). The #2 point is 15.05 (the high on Nov. 19). Keep watching for all of the 1-2-3 strategy criteria to be met.