This is a chart of spot beans, August.
We had a nice buy today here at 14.21. However, I’d be short here against 1468. I’d be playing short side until 14.75 level.
This is purely a speculative play.
Good Trading.
PS. The Dow September futures contract is still under 15,425 as I write this.
Maintain shorts. Have your buy stops in above, in case we pop.
I just think we came too far too fast and are due for a haircut here.
If we settle higher above that 15,500 level, then 15,800-16000 should be within reach.
Be disciplined.
That’s about it for today.
CER