Rising Wedge Continuation for Soybeans?
Today I am looking at SX2019. This chart looks awful similar to a rising wedge continuation pattern. With the export problem, and the amount of beans we have in the U.S., I wouldn't doubt this is possible. This idea is for chart pattern purposes only. Lets see where it goes.
Everything here is purely my opinion, and in no way advice or recommendations on making trades. I may or may not hold positions in the instruments I analyze.
L.R.
Everything here is purely my opinion, and in no way advice or recommendations on making trades. I may or may not hold positions in the instruments I analyze.
L.R.
Comment:
coming back to this chart here, I am still of the opinion that without a trade deal bean futures will continue to slide lower. Lots of negative fundamentals here
Comment:
we have realized a break in the bean trend. in my opinion the price will go down further, but as for now I would say the rising wedge has acted as it should. Good trade idea if I may say so myself
Trade closed manually