The chart is pretty clear, if we look at the previous wedges we see that they finished with an intense breakout. A wedge has been on its way for nearly 3 years and the current phase in yellow rectangle is similar to the 2010 price action: touch of upper trend then a decay with resistance in the middle of the wedge before the breakout.
Note the long term supportive area under 430.
Will it happen again or not? Of course I don't know, and to be honest the fundamentals are not really pointing towards a bullish price with higher crops, pressure on prices and increasing stocks.
www.agrimoney.com/ne...s-to-ease--9355.html
Note the long term supportive area under 430.
Will it happen again or not? Of course I don't know, and to be honest the fundamentals are not really pointing towards a bullish price with higher crops, pressure on prices and increasing stocks.
www.agrimoney.com/ne...s-to-ease--9355.html
