For Mar Rough Rice, the #1 bottom point is 9.560 (the low on Dec. 18). The #2 point is 10.320 (the high on Dec. 26). Keep watching for all of the 1-2-3 strategy criteria to be met.
The #1 bottom point for Mar Wheat is 504-0 (the low on Dec. 17). The #2 point is 525-0 (the high on Dec. 24). Keep watching for all of the 1-2-3 strategy criteria to be met.
Feb Live Cattle has been moving sideways, forming a well-defined trading channel. Since the prior move was to the upside, a breakout above the top of the channel would signal a potential long entry. If the trade is triggered, an initial stop can be placed just below the recent channel lows. The first upside target is the lower edge of the weekly resistance zone (gold rectangle). Keep watching.
The #1 bottom point for Mar Cotton #2 is 62.97 (the low on Dec. 16). The #2 point is 64.81 (the high on Dec. 26). 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 15.29 (the high on Nov. 28). The #3 point is at 14.38 (the low on Dec. 18).
Two weeks ago I wrote: "A long entry can be established on a break above the Dec. 19 high." The long entry was triggered on Dec. 22. The initial stop loss could be placed just below the #3 point. The initial target is the daily chart resistance level (blue horizontal line) at 16.33.
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