Ok, CZ13 settled above the 3 yr old Trend line. In 2 weeks, CZ rallied 61 cents. This is why we use stops. The CZ chart has moved back from Bearish, to Neutral in the short term (1-3 week) Intermediate term ( 1 to 3 months) CZ is still in the hands of the bears. A settlement above 5.88 would be necessary to shift the intermediate term back to neutral. That is the 1/2 way point of the life of contract extremes. Sept 12 th high 6.65 down to the recent low at 5.12.
Loss taken. Fortunately, the first 1/3 of the shorts had small profits, the 2nd third took those profits away, for a push. The rest of the position was stopped out on Friday.
Live to fight another day.
CER
