Technically, the march contract is continuing to consolidate itself, to the point of winding itself up for an explosive release point. Friday's USDA report could be the catalyst, but with moving averages converging both above and below the price and a series of inside day ranges, the time is nigh. Momentum is around neutral at 45.69 on the RSI, whilst the moving averages (9 EMA and 50 SMA) pending convergence could signal a change of trend lower.
marketing@alchempro.com
