PAIR TRADE L CORN SS CRUDE
Technically crude is at an 61.8% retracement + at decending TL
Corn is breaking a minor decending TL to the upside, and has been at a 50% retracement
On the backdrop for Corn we have historical USDA low usage of corn stocks ratio, and a very big reversion in the ammount an avarge corn bushel yields x arce farmland down from 2009 about 34%!!
+ seasonality for corn indicates peaking prices in May.. Historically, another backdrop to pay attention to.
Crude:
January 4th 2013 had a dramatic drop in crude inventories -11M vs. -0.7M
December 11th 2011 had a dramatic drop in crude inventories -10.6M vs. -2.8M
Crude inventories proceeded to pick up in the weeks after, with a price drop of about 20$!
The same thing happened in 2010 late to early 2011, but the price dropped way less, about 5$ or less.
Crude price seasonality bottom in late february and rise up to May, another backdrop to pay attention to.
Corn is breaking a minor decending TL to the upside, and has been at a 50% retracement
On the backdrop for Corn we have historical USDA low usage of corn stocks ratio, and a very big reversion in the ammount an avarge corn bushel yields x arce farmland down from 2009 about 34%!!
+ seasonality for corn indicates peaking prices in May.. Historically, another backdrop to pay attention to.
Crude:
January 4th 2013 had a dramatic drop in crude inventories -11M vs. -0.7M
December 11th 2011 had a dramatic drop in crude inventories -10.6M vs. -2.8M
Crude inventories proceeded to pick up in the weeks after, with a price drop of about 20$!
The same thing happened in 2010 late to early 2011, but the price dropped way less, about 5$ or less.
Crude price seasonality bottom in late february and rise up to May, another backdrop to pay attention to.
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.