Currently I am short as of yesterday afternoon when I saw MOS hit $69. I felt like that would be strong resistance on the upside, so it was natural to enter a short there. I see that MOS is in a downward channel. The $67.15 level has been one where it has had support, (although it did break through earlier last week), and that $66.75 area is also support.
15 MIN CHART (MOS)
I will probably play this quite tight today, by selling 1/2 a position when we near $67.15. Right now, my stops are around $68.35 to keep me winning. If MOS would drop through the $67.15 area, it could very well trade down to the bottom of the channel which is somewhere around $65.00 on the weekly chart.
WEEKLY 3 YR MOS
Be very careful and nimble. You must use stops, although MOS is under pressure, all commodity plays are potential huge upward reversals if the US dollar continues to drop.