January 26, 2021 GRAIN MARKET As a practitioner of Technical Analysis, I am fascinated with the effectiveness of Fibonacci Retracements levels to act as levels of support and resistance. The most common Fibonacci Retracement levels are the .236, .382, .50, .618 and .650 levels. Whenever price is approaching these levels, I prepare for a reaction, maybe a reversal, maybe price slows down and consolidates.
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Soybean and Wheat Charts
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January 26, 2021 GRAIN MARKET As a practitioner of Technical Analysis, I am fascinated with the effectiveness of Fibonacci Retracements levels to act as levels of support and resistance. The most common Fibonacci Retracement levels are the .236, .382, .50, .618 and .650 levels. Whenever price is approaching these levels, I prepare for a reaction, maybe a reversal, maybe price slows down and consolidates.