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February 2nd, 2015: CORN and WEAT Wave Count Update

Posted by pugsma on February 2, 2015

5:10 pm EST:  Below are the CORN and WEAT wave count updates.

CORN’s price move from 27.83 to 24.67 looks like a typical wave 2, 62% retracement for minor 2 of major [1]-P3.

CORN 4-hr chart (EOD):

PUG CORN 4-hr chart EOD 2-2-15

CORN weekly chart (EOD):

PUG CORN weekly chart EOD 2-2-15

WEAT price at 10.70 today is nearing a violation of the P2 low at 10.62.  Thus if 10.62 is breached then the move up to 14.07 was minor 4 of major [C]-P2 and minor 5 of major [C]-P2 needs to complete above the 10.25 Cycle low.

WEAT 4-hr chart (EOD):

PUG WEAT 4-hr chart EOD 2-2-15

WEAT weekly chart (EOD):

PUG WEAT weekly chart EOD 2-2-15

 

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