I like the looks of the grain complex here. Corn, soy, wheat and oats are all pretty oversold, and if an oscillation pattern holds, there could be a rally right about now. Also nice that their rates of decline have flattened out a tad.
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Here’s a closer view, a 1-hour scale of the last month:
Source: Interactive Brokers
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The whole commodity complex is short-term oversold, and grains should benefit from any bounce there. They are also likely to tag along with any continuation in the stock rally.
