March Oats continues to sink. All harmonics points to a Bullish Butterfly. End point would put us back a few months to a low of 200. Uptrend has been broken. Next downside target for bears is S3 at 238. Suspect pull back around that area before continued downward momentum, if that happens at all. RSI would be oversold by S3. There was significant selling at 268 and 269 so any pull back would have a lot of headway at those numbers.
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Oats continues down. Didn't make S3. That is still target at 238
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Oats now using 238 as support at S3.
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Oats bounced off of S3 at 238. This is a down trending market at the moment and will need to bust through pivot and stay above to foretell any upside. The candles created suggest further downside.
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Oats showing signs of a double bottom tomorrow. Heading towards S3 once more.
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Oats has created a double bottom at S3. Waiting for confirmation of another move up for fall to 221
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Oats in a stall but made double bottom W. If you go by S3, this area should become support for another up move to at least S1 at 257'4. We may see a small three drives pattern develop here.
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Bearish day for Oats. Looking at further downside on Tuesday, however must break S3 at 238 for any significant move.
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Oats still looking bearish. Trying to find reason for up move.
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Oversold situation is the only thing helping Oats right now. New pivots have been created.
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Oats not finding traction. Could go either way. S2 target 250'2
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Oats up again today. New projection
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Two possible outcomes here. Three Drives uptrend, or bearish Cypher. Has a lot of overhead to break through. Oats hit pivot today. Next upside target breaking through pivot and staying above and head to 256.
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March Oats looking at bearish Cypher. New projection is Elliot Wave. It did this last year and suspect it will do this again.
