A bullish bat is being created for October Soybean Meal. Next downside target at 297.9 at two S1s ago. This would bottom out SM on RSI. "Farm Futures expects next week’s USDA report to cut 2017/2018 ending stocks to 415 million from USDA’s July 460 million due in part to expected lower production of 4.214 billion vs 4.26 billion." At the moment predicting Bearish Cypher for next pattern.
Comment:
Soybean met bullish bat condition rebound to 301.8. Upside target 306.3 S2
Comment:
Look for double bottom for SM at S3 297.2. This would oversell SM