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Central Missouri | To figure where this short cover rally could possibly take us you have to know what is unique about this year. That is that price has gone down continuously from jan 1 until just recently.
So, look up all of the new crop charts from 1972 until now and pick out how many other years that this occurred and then note when they bottomed, hen they stopped going back up, what percent they went back up and if they met or exceeded the jan 1 price.
This can give a bit of pretty good onfo.
If you want to go a bit further look at what happened to the large spec pisition during the short cover rally and where their position was when the rally ended.
You might also look at how many trading days it took for the market to go from low to short cover rally high.
Great thinggto have the younger generation do for you. Tremendous learning that would serve them the rest of their lives.
For the non chartists, you have to use charts to do this.
Money flow drives markets at times!
Edited by ehoff 5/6/2024 17:02
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2024 analogues
