This is more a waiting game for the USDBRL to finally make a correction lower in order for KC to rally.
BUY signals from a week ago have not been confirmed, yet we still sit on support in terms of the long term trend channel and the lower BB at 117.
Also, this is a Z15 contract low, which could lend some support.
Better risk reward being long at these levels IMHO
BUY signals from a week ago have not been confirmed, yet we still sit on support in terms of the long term trend channel and the lower BB at 117.
Also, this is a Z15 contract low, which could lend some support.
Better risk reward being long at these levels IMHO
Took much longer for a move to the upside then expected, but we had many divergences as we made new lows over the past few weeks, hence great buying opportunities.
The market is fueled by USDBRL finally coming off a little.
On a daily chart, we are already running into the upper Bollinger Bands and the 100 day MA at 129ish
Spreads are firm and project further upside potential.