Our December 8 Kabuli 9 mm Chickpeas newsletter identified a Sell Signal below $53/cwt or $0.53/lb.
We updated our analysis on January 11 Kabuli 9mm Chickpeas Update maintaining our earlier Sell Signal.
The February 7 Kabuli Chickpeas newsletter came with updated Fibonacci retracement levels with the following analysis:
The confluence of the 50% retracement with the previous chart’s level of interest could provide support.
Will the price continue to the 61.8% Fibonacci retracement level at $34?
Or do we find support in the $39-40 level?
The March 3 Special Crops Update identified the level where buyers began stepping into the market.
The Kabuli chart is broken; however, the 50% retracement level has brought buyers.
The chart below is the updated Weekly price chart.
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