Wheat is showing the way for a possible up move for SM. FIrst upside target is breaking through 335, then pivot at 344.2. We will be coming to the end of pivots soon replaced with new ones, but pivot will be lower along with R1 and R2.
Note
Soybean Meal looking to move higher again after a disappointing move last week. Downtrend line still target.Note
Note
SM still trying to attack the downward trend line. Buyers are ignoring the USDA bearish report. Looks like we are in a three drives scenario.Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.