Yellow Peas

Yellow Pea charts are moving up!

As usual, the first chart up is the long-term chart dating back to 1992.

Note the 2021 break of the yellow trendline connecting the highs of 1994, 2008 and 2016.

Interestingly, the years between the peaks dropped from 14 to 8 to 5.

Maybe my thesis that ‘pea protein will be to agriculture what oil was to the combustible engine’ will be accurate!

Notice how the yellow trendline was retested and held after the 2021 breakout.

This is typical price action.

Why the 26-year trendline of a cash crop was retested and held is beyond me.

However, you can see this behaviour on charts of stocks, bonds, crypto, forex, future, etc.

It is really quite common…. but cash crops?

I tightened up the timeline in the chart below to show recent price action in greater detail.

As a market technician, I use Fibonacci retracement and expansion tools to identify levels of interest where the price often slows down or reverses. I have no idea why this happens; however, I assure you that it does.

I provide the bullish and bearish levels of interest from my Fibonacci calculations and support and resistance levels below.

To summarize, I am Bullish above 18 and Bearish below.

BULLISH LEVELS OF INTEREST

(Take partial or full Profits)

1. 19

2. 22

3. 27

BEARISH LEVELS OF INTEREST

(Long entry or possible support level)

1. 18

2. 16

I hope you enjoy this analysis, and I am interested in any feedback you can provide.