POT, daily, near term
The MACD cycle is ticking lower, but - if the main market can start aiming for sp'1440, then POT should at least hit $50.
POT, weekly, 5yr historic
POT is still way below its 2008 bubble peak. The MACD cycle is marginally bearish, and from a price perspective, its a somewhat worrying clear bear flag.
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So, near term POT looks okay for some upside. Mid-term, if market can hit my now much-touted sp'1550, then maybe POT can get back to the 2011 high in the low 60s. The weekly cycle is a little concerning though.
I personally hold to the underlying super-bullish LONG any and ALL agricultural 'stuff' across the years, and decades ahead. Food is the ultimate in consumer needs, and with now 7bn people out there, we're going to need all the chemical help we can get.
