Oat Futures Sell Signal

This newsletter is a follow-up to my December 01, 2020 publication, Oats.

This past week Oat Futures closed below the flattening green 50 Day Moving Average.

A close below the 50 DMA is one of my sell signals.

Today’s price is battling the blue VWAP from the September 9 low.

VWAP levels often attract buyers to get a bounce here into the 50 DMA.

Notice the confluence of the 50 DMA and my 713 price level identified in the December 01 newsletter.

I anticipate this 713 level to act as resistance giving producers another opportunity to sell at a higher level.

Let’s see if this happens.