1. Long term downtrend 2. Fibo 61.8% stoped price 3. break parralel chanel
Correction trend line was broken we wait for down trends
1- Break mid-time trend line 2- Negative data from europe
SHORT 1- end of abc (likes double peak) 2- Fibonacci stop the correct 3- Downtrend 4- drops below chanel
Long 1- Support 2- 50 % fibonacci 3- and of abc correction 4- Bottom of channel 5- fast grow in first week on february 6- Eliott teory 7- Big volume Negative- - Non-comercial make new short position - Commerzbank and Rabobank forecast 2000$ and 2800$ for Q1
LONG or SHORT see the chart 60% Short 40 % Long Long if 2520 SL 2459 Short if 2478 SL 2520 edit-- LONG 2520
fundamentally- Hedge funds reduced their bullish positions on grains Technical - broken mid-time trend