March Oats may be setting up for an Elliot Wave upward move. We saw this same setup last year about this same time. Grains are bullish right now and the old adage is Oats leads the way. We suspect it will use the 20 day moving average as a jumping off point for the next move up.
Note
Oats hit trend line and bounced off. We may see a surge here or mixed trading to flush out a little more RSI.Note
Oats still following elliot wave. It may be filled with ups and downs on its way up as RSI is still not going to get us where we need to be in one charge.Note
Oats continues to rise and follow Elliot Wave. Upside target 280'4
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.