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Soft Commodities


kelt
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you guys are more focued on commodities. so, here is my question.

 

is lumber soft commodity or hard commodity?? little confused with it. {should be hard commodity?? all nails, bolt, sort of stuff}

 

anyway, i've been tiped last year, this thing will go up. as i followed it for a while, kinda think it is more accurate economic indicator, because it is less mugg speculator's thingy.

 

http://www.marketwatch.com/story/lumbers-f...2-12?link=kiosk

 

interesting read. i'm still learning this thing!!

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Grains may have topped last night.

 

Here is a look a soybean. Seems a pretty clear 5 waves. I'm looking for an abc correction and another long trade. Could well just bounce off the 943 to 946 support area. Lets see how it unfolds.

 

post-2575-1266965757.jpg

 

Here is a video from GannGlobal. Like anyone they can get it pretty wrong.

 

http://www.gannglobal.com/red-alert-commod...osive-10-02-22/

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Wheat seems to be the weakest of the three(soybean, corn & wheat). Didn't get a higher high last night. Looks likely to head to the low 480's and maybe lower. Ignore the wave count, doesn't seem right.

 

post-2575-1266967143.jpg

 

Corn's chart is pretty similar to soybean.

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Softs hitting strong weekly support.

 

Cocoa weekly continuation contract.

 

post-2575-1267013479.jpg

 

Looks to forming a bullish wedge on the daily, however doesn't seem complete. another up and down would look better.

 

post-2575-1267013871.jpg

 

Sugar weekly continuation contract

 

post-2575-1267013504.jpg

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