Beans

[cottonpicken]

In my opinion.

Top is in,even if it isn't,not much upside,great
downside risk from here.

imo nia dyodd

[charliep]

Will post the monthly soybean chart. Pretty heavy duty resistance at $14.50/bu with only first half 2008 seeing this area broken. Soybeans broke $15/bu four months and only closed above (briefly) two months. Don't see this resistance area broken short term - need something else to push higher. As with cottonpicken, only an opinion. Markets are always right at the end of the day.

[URL="http://www.farms.com/markets/?page=chart&sym=ZSK12&domain=farms&studies=Volume; &cancelstudy=&a=M"]CBT soybean monthly[/URL]

[charliep]

Likely much better technical analysts here than me but are we seeing the outline of a head and shoulders formation on new crop canola?

[URL="http://www.farms.com/markets/?page=chart&sym=RSX12"]ICE November canola[/URL]

<a href="http://en.wikipedia.org/wiki/Head_and_shoulders_(technical_analysis)">h ead and shoulders</a>

[bgmb]

How about new crop?

[cottonpicken]

0% anything new.

[crusher]

I see a pretty strong uptrend line that hasn't been broken yet. Please hold support, please, please....

[cottonpicken]

Canola has broken trend and hit its head 3 times on
ceiling,not good.

It also has been front running the bean market for
some time-not the best way to call beans,but this
level of resistance is huge.

Hopefully the whole commodity sector gets a jolt
from outside forces and we move higher.

[Kodiak]

Somebody is unloading a bunch tonight
17/04/2012 8:50 MDT
20 cents off the highs in 90 minutes.... Looks like the volumes are higher than usual for the night session. A fund lightening up?

[furrowtickler]

cotten , are you now bearish??

[cottonpicken]

Just bearish in the short term time frame.

[charliep]

Would be watching the charts carefully these days. The technical side makes me nervous. As highlighted before, would also be watching the corn and wheat charts.

[SASKFARMER3]

i thinks we seen the top for a while!
Charts do work.