COMMODITIES - RICE ZR1 - Breakout Imminent
Updated
Line of Least Resistance determined by Underlying Conditions in my Global Macro Campaign.
Price Action Behavior suggests short attack taking advantage of sellers at previous breakout, to accumulate for next wave... which is building up quickly.
I will know if my suspicions are correct at the median line.
US-China tensions will make the supply scarce, and NATO + allies' free trade agreements are under pressure due to pandemic handling. I speculate a global shift towards domestic production, if not military tensions... Nations will most certainly need to stockpile food!
Other Commodities of interest:
Coffee:
Wheat:
Soybeans:
Corn:
GLHF
- DPT
Price Action Behavior suggests short attack taking advantage of sellers at previous breakout, to accumulate for next wave... which is building up quickly.
I will know if my suspicions are correct at the median line.
US-China tensions will make the supply scarce, and NATO + allies' free trade agreements are under pressure due to pandemic handling. I speculate a global shift towards domestic production, if not military tensions... Nations will most certainly need to stockpile food!
Other Commodities of interest:
Coffee:
Wheat:
Soybeans:
Corn:
GLHF
- DPT
Note
Coffee and wheat have made their expected moves:Whereas Soybean and Corn have not made their full moves but are re-testing:
Let's see if rice breaks out as expected as well.
Something to consider is that Natural Gas is used in fertilizer for crops, so the crop commodities will have a delayed effect from NG's rise. Watching for entries on commodities which have made bull flags going into their bullish seasons:
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