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Futures Brokerage Trading Solutions – Blue Line Futures
Corn
Technicals (July)
July corn futures traded on both sides of unchanged yesterday, finishing the day near the low end of the range which was just above the previous day’s low. We remain upbeat on prices and view the chart as very constructive, but believe we are an environment where shorter term opportunities on both sides of the market will be plentiful. If you’re a producer, that is probably going to be a different colored lens as you may be more proactive in playing defense.
Bias: Bullish/Neutral
Resistance: 483 1/2-486***
Pivot: 471-474 3/4
Support: 456 1/2-460***, 448-451**
Soybeans
Technicals (July)
July soybean futures traded into our 4-star support pocket from 1199 1/2-1204 but were able to defend it which has helped elevate prices back into our pivot pocket from 1220-1225. If the Bulls can achieve a close above this pocket it could spur another upward thrust towards the recent highs, 1252-1259.
Bias: Neutral/Bullish
Resistance: 1252-1259, 1305 1/4-1311 3/4*
Pivot: 1220-1225
Support: 1199 1/2-1204, 1182 1/4-1186 1/4
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Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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Performance Disclaimer
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.
One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
