A lot can happen in a week, especially in the commodities markets.
That's why Senior Commodities Analyst Jeffrey Kennedy writes the Daily Futures Junctures Weekly Wrap-up each Friday. Jeffrey uses these updates to review and post forecast charts for every major commodity market. He also records a video update which allows him to talk about each one of his charts in depth.
Jeffrey's Weekly Wrap-Up is hugely popular among his subscribers and its very easy to see why: he not only covers everything but does so with a concise, effective efficiency. Its all part of Daily Futures Junctures, a pillar of our
Futures Junctures Service.
By way of example, here's an excerpt of last Friday's update, with Jeffrey discussing what the week's action in Soybeans means for the future:
"Soybeans have been challenging to label over the past week, and I've spent a lot of time going back between looking at the combined session charts and the pit session charts. I do so to get a good feel of clarity and substructure of a market.
"So what I think is going on now with Soybeans is that we have an initial move … for wave (-) … a secondary … for wave (-) …, and that subsequent price action is tracing out a diagonal triangle. That would actually make a lot of sense…. It would also bring it near … a retracement of a previous larger degree wave...
"Diagonal triangles are very exciting wave patterns. They often lead to swift and sizable swings in price, so … I'll be watching this market very carefully."
Jeffrey is correct: contracting triangles in wave counts are very exciting. What's especially exciting here is that Soybeans have continued to unfold in line with Jeffrey's contracting triangle label: prices have been moving inside a steadily smaller window, both today and Monday.
This means that Jeffrey's call for a "swift and sizable swing in price" should now be in the cards – and soon. Where it is going is the more difficult question, but Daily Futures Junctures subscribers will have their answer no later than Friday when the next Weekly Wrap-up airs.
So why not become one of those subscribers and get the answers straight from the source? Elliott Wave International's
Futures Junctures Service delivers top-notch forecasting combined with just the right level of technical education and know how. Join us today.