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Feb 4, 2019 3:13 AM

SHORT ADM Approaching Resistance, Potential Drop! Short

Archer-Daniels-Midland CompanyNYSE

Description

ADM is approaching our first resistance at 47.15 (horizontal swing high resistance, 61.8% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 43.26 (50% Fibonacci retracement ).
Stochastic (55,5,3) is also approaching resistance where we might see a drop below this level.
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