New Crop SX bounces 3-1/2 month high . Shows The importance of the 50, 100 and 200 day averages— Funds run on the move above the 200 day average capped off by a new 5 month low in the US Dollar.
Chris Robinson
Managed Fund short +Technicals=Opportunity
New Crop CZ16 is right up against a T-line which extends back to the July 2015 highs.
Managed funds have a very large short postion: 222K contracts, or 1.1 billion bushels.
The Contract is also right up against this T-Line.
Most analysts agree that the older or more established a T-line is on the charts, the more significance it can have.
Doubtless, every bull and every bear is looking at this T-Line.
While there is no guarantee ever in technical analysis, in my opinion, the set up gives traders, both bulls and bears, great opportunity.
The opportunity will come […]