Just looking at the swing numbers. 517-435=353
Gap at 497.25 and 414.50=331
Res at 410 (last yr low) 3 month avg off the monthly chart 422 (which is also unchange for the year)
Many farmers not hedged or just a percentage waiting for the bounce.
We had a Jan low 435 and rally to 517=82 cents/435-82 cents =353
Gaps 497.25 and 414.40=82.75 cents/414.50-82.75 cents=331.75
Of course thats keeping the 414.50 gap open and not fill it
I found an easy pivot display on the cme charts and it comes to 3.38. Thanks scott.
