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ThinkingAntsOk
Jul 31, 2019 2:15 PM

Bearish Potential on Soybeans by ThinkingAntsOk Short

SoybeansOANDA

Description

4H CHART EXPLANATION:

At the beggining of May, price started a strong bullish movement towards the Weekly Descending Trendline. Once it faced the zone, it could not consolidate above and the trend became weaker. Then started moving sideways and it has recently formed a Triangle Patter, which was broke downwards yesterday. We expect a downside move towards the Multiple Support Zones.


MULTI TIMEFRAME ANALYSIS:

-Daily:



-Weekly:







Trade closed: target reached

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