Oats is retracing back to, or near 38.2 before continuing upwards unless bears can pull it down further. Look for reversal at 232'2 area.
March 2017 Oats has two gaps to fill that were created back in October 2015 on the Weekly chart. It is possible that bulls want to fill these gaps. Look for more upside to 256'4 and then 280'0. Highest achievable point maybe 294'2 made back in fall of 2015.
Short the future or short the call for a more conservative strategy.
Use a stop loss under yesterday's low, risk 1% max, and aim for a 10% rally from here. Commercial traders have been increasing long positions, and the chart is very bullish, and outperformed most commodities in the previous session, so this is a very attractive setup. Good luck, Ivan Labrie.
Bulkowski's Bump 'n' Run Bottom. Look for long on pullback. Target top of pattern.