November bean chart: When we couldn’t take out 13.00 and make a run above 13.40….. That was a big sign of weakness. When we settled below $12.75 that was the second major sign of weakness. Finally, the trend is lower. If we take out the april low at 11.86….. that opens up another $1.00 to the down side.
For these reasons, I am more comfortable being a seller of rallies, rather than a buyer of breaks.
