RSI remains near 50 and prices are holding the low at the 50-day moving average. We may continue to play the range between 67/69 until more information comes out next week. The 50 and 9 day moving averages are starting to get closer as we move sideways and this could be a factor as we wait for a break in this current flag pattern. We do have a USDA report coming up on February 8th and we are approaching H'08 expiration.
However, grains will continue to have the biggest impact as we get closer to new crop planting and the fight for acreage.
marketing@alchempro.com
