CommodityTrends Weekly Newsletter

Nov Rough Rice broke out of its triangle in strong fashion on August 21, creating a potential long setup—especially following the retest of the triangle on August 25. Price finally continued its rally, breaking above the weekly chart resistance level 16.05 and is now approaching the monthly chart 50% level at 16.907.

If you’re paper trading this move, consider trailing your stop to just below the Sept. 23 low to help protect the position while still giving the trade some room to develop.

Dec Soybean Meal made a new #1 top point at 376.9 (on September 24). Keep watching for all of the 1-2-3 strategy criteria to be met.

Dec Soybean Oil has developed a large 1-2-3 top formation inside a large triangle pattern. Price continues to vacillate inside the triangle pattern. Be sure to follow my Daily Trading Video where I’ll explain exactly how I'm approaching this setup. You can learn more here: https://www.commoditytrends.com/register

Dec 10-Year T-Note made a new contract low on September 24 at 105-145. I'm still watching for a possible trading opportunity.

Mar Sugar #11 made a #1 top point at 19.90 (the high on Sept. 10). The #2 point is 18.02 (the low on Sept. 22). The #3 point is 19.07 (the high on Sept. 24). A break of the #2 point will trigger an entry to the downside. The initial stop loss can be placed above the #3 point. The initial target is the daily chart 50% level. For more details on this setup be sure to tune into my Daily Trading video. You can find out more by clicking here https://www.commoditytrends.com/register.

Maxlinear Inc (MXL) is on the verge of triggering a MET entry to the upside. That said, there is a gold weekly chart wick zone just above. This is an area of liquidity and I like to anticipate that if the stock rallies it could seek out the mid-point of the zone at roughly 113.78. No guarantees, just a technical chart based observation. Keep watching.