OatsMarch Oats rose sharply today trying to make its way to the top of the Cypher pattern. Next target for bulls is the Cypher completion at 250'4
ZO1! trade ideas
March OatsMarch Oats fell today continuing indication of a bullish Cypher pattern developing here. It met the 61.8% retracement from the previous BC leg. The candle created suggests further downside. Next target for bears is the 78.6% position of leg BC to 221'4, and then to 88.6% at 219
March Oats rose from bullish flagMarch Oats rose today off of bullish flag and stopped at Gartley 78.6% of the XA leg. This may turn into a Butterfly with upward progression to 251'2 or fail and move lower. Oats has major weekly resistance at 243, but once moved out of Gartley, potential for butterfly should be intact.
March Oats Bullish SetupMarch Oats is creating a bullish flag. Open interest is falling with market in consolidation. Look for upside movement to 236 to create Gartley pattern. If Gartley holds possible falter back down to 226'2 and 220'4 where wedge support is. If not, look for further upside potential to create a butterfly pattern to 251'2 and butterfly extension to 263'4. There is still a gap to fill at 254'2 from the weekly chart. Large resistance to overcome created back in April 18 at 243'2 which this market hit and fell back from.
March Oats rallied backMarch Oats rallied back today wiping out the past 5 days of up and down. Looking for higher prices Wednesday and into the week. Might finally start to progress and complete position 3 of the Elliot Wave and top of Butterfly. 3/1 Gann Line still holding as support. Rising RSI and MacD show progress.
March Oats Still on a Supporting Gann LineOats is still playing hard to get but using 1/2 Gann line as support. Looking for more upside here to 259
2017 March Oats creating a Bullish Cypher PatternMarch Oats may form a bullish Cypher in the coming weeks. Look for retracement between 38.2 and 61.8, then rebound to 113 - 141.4 percent of the XA leg. If it falters and continues to 78.6 or below this retracement, pattern may change to a Bullish Butterfly.
March Oats finally correctedMarch 2017 Oats finally retraced back to the 50% level of the last move. Look for rebound around the 50-61.8 level. Oats is still overbought, so potential to move sideways or further down from 61.8-78.6 possible. Still bullish to fill gaps from last year. Next move to 256 if bulls can keep control.
Oat Retracement to 38.2 before continuing upwardsOats 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 climbs higherMarch 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.
Oats futures: Go long the front month futuresUse 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 BottomBulkowski's Bump 'n' Run Bottom. Look for long on pullback. Target top of pattern.
Making crude look (almost) bullish in comparisonContract changeover was v cruel.
Note the many similarities in the commods (by line)
OAT knowsOat douple topped and is poised to move lower. This is a high probability trade. Target on the median line but could move even lower depending on the speed. The only negative aspect is the thin market. Oat normally anticipates the market move of the other grains. Look for short opportunities.
Overb'oat'OAT is extremely overbought. Price increased exponentially since Oct2013 and is now due to correction. 1/2 Bull Gann line can act as resistance. A trade below 391'0 tomorrow would confirm the set-up. A continuation to the upside would negate the set-up. Target on the 20EMA. Seasonally weak till April/May.
