July Beans gave us a nice big bullish engulfing pattern. Yesterday's close was 840 1/2 and today's open was 840. So, no question about the pattern. It also closed over the 3ema, 8ema, 20sma, and 34ema. We also pierced the 50sma but closed below it. We did close over the 34ema and we haven't done that since March 31st, 2 months ago. And all this was on significant volume.
These are bullish indications, so we gladly held the position.
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