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Heading to zero?
Not much to add but just the daily trash.
Nice breakout by Potash Corp to complete a reverse head and shoulders pattern!
Other fertilizer stocks such as Agrium and Potash One also rose on higher than average volume.
Fertilizer stocks historically have a period of seasonal strength from June to December. Is seasonal strength coming earlier than usual this year?
Fertilizer stocks are responding to weakness in the U.S. Dollar and a breakout above seven month base building patterns by U.S. grain. The following ETN tracks a basket of U.S. grain prices:
The Horizon BetaPro Agriculture Grains Bull ETF appears poised to complete a base building pattern.
Ditto for the most actively traded Agriculture ETF trading on U.S. exchanges:
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