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hardnox
Advisor

CRB

http://stockcharts.com/h-sc/ui

 

There's absolutely no confirming action yet but here's a thought.

 

There is a fully formed complete 5 wave move to the downside. If it is then ought to see the best bounce in over a year, into the 515-545 range over seveal months.

 

Another interpretation is that wave 5 isn't done, this was just 1 of 5 and it will extend further down after a modest correction toward the 500 area.

 

Neither view is confirmed by action but I favor the latter view simply because I don't see the powder to mount the larger rally.

 

Do see the whole complex as becoming nearly as oversold as it was overbought following the  winter rip.

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kyu2852570
Veteran Contributor

Re: CRB

I have heard grains follow crb by 90 days.
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