Crude looks like it wants to go to 109 (or higher) which seems likely to send the S%P into the 1290 zone
Saturday, May 21, 2011
Crude & Stocks
Crude looks like it wants to go to 109 (or higher) which seems likely to send the S%P into the 1290 zone
Grains May 21
Wheat is sideways with a slightly constructive aspect to the chart. We are getting into the season that normally sees rising grain prices.
Corn looks as if it would like to achieve lift-off, headed for the $7.50 to $9.00 part of price space, but its the rocket is still on the launch pad, engines burning.
Beans don't look so hot. I imagine they will be towed higher by the presumptive rise in corn & wheat, but they don't seem to want to run on their own.
Another 30 days could make a big difference in the way these charts look.
Corn looks as if it would like to achieve lift-off, headed for the $7.50 to $9.00 part of price space, but its the rocket is still on the launch pad, engines burning.
Beans don't look so hot. I imagine they will be towed higher by the presumptive rise in corn & wheat, but they don't seem to want to run on their own.
Another 30 days could make a big difference in the way these charts look.
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