Jul Soybean has developed a large 1-2-3 bottom formation. Per the letter from two week's ago, "a break above the April 24 high would trigger an entry to the upside, which occurred on May 02. The initial stop loss can be placed below the May 01 low. The initial target is just below resistance of the #2 point (1225-6)."

The initial target was hit on May 06. The stop loss for any remaining positions can be moved to just below the top of the weekly zone (near 1200-0).

Jul High Grade Copper broke to a new contract high today as price rallied to tag the bottom of the monthly resistance zone. Keep watching for a chart pattern to take shape.

Jun Gasoline RBOB developed a 1-2-3 top formation. As previously explained in prior issues of this letter, an entry to the downside was triggered on May 01. The initial target was the blue daily support level (horizontal line) at 2.4925, which was hit on May 08. If trading additional positions the stop loss can be moved to just above the May 03 high.

Jul Cotton #2 has developed #1 and #2 bottom points of a 1-2-3 bottom formation - inside of both monthly (purple) and weekly (gold) support zones. Keep watching for a #3 point to develop and a possible long entry.