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CommodityTrends Weekly Newsletter

Barchart·11/06/2026 11:38:24
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Grains

Jan Rough Rice made a new #1 top point at 18.210 (the high on October 26). Keep watching for a chart pattern to develop.

Dec Soybean Meal made a #1 top point the high at 376.9 (on September 24). The #2 point is the low at 344.20 (made on Oct. 05). The #3 point is the high at 368.20 (made on Oct. 08). The pattern remains in force and continues to move lower. Price is currently sitting at support of the gold weekly chart horizontal support line. If you're still paper trading this market consider moving your stops down to just above the Nov. 05 high.

Metals

Jan Platinum has formed a new #1 bottom point at 1,388.9 (made Nov. 4). Keep watching for a chart pattern to develop.

Meats

Dec Lean Hogs has developed a new #1 bottom point at 58.200 (the low on Oct. 29). Keep watching for all of the 1-2-3 strategy criteria to be met.

Foods/Softs

Mar Sugar #11 developed a 1-2-3 top formation. We've already taken profits on my Daily Trading video. That said, the market is drifting lower. If paper trading any additional positions, consider moving the stop loss to just above the Nov. 05 high to help protect the position.

Stocks and Exchange Traded Funds

I continue to watch Perrigo Company (PRGO) to see if it will trigger a possible MET. The gap above (highlighted in blue) looks inviting. So I'll be patient and keep watching.

Fortune Brands Innovations Inc (FBIN) triggered a possible MET entry to the upside on Nov. 04. Stops can be placed below recent low. The initial target is the blue horizontal resistance line at 52.73.

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