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Long Term Prospects for SOYBNUSD

OANDA:SOYBNUSD   CFDs on Soybeans
The SOYBNUSD , symbol ZS, is in a Bear Market Rally within a long-term Bear Market with price trading above the 50 week ema , but below the 200 and 800 week emas. The long term emas are mostly flat, signaling accumulation / distribution . The price action appears to be finishing up the c-wave of an x-wave before a final y-wave down. The long upwards candle wicks, the testing of the 200 ema , and consecutive dojis are all confirmation that a top is being putting in. This would correspond with a long-term commodities bottom expected in 2021.

The Market is in a Bear Market Rally on the daily, with price above the 50 ema , which is above the 200, but still below the 800 ema . The 50 ema is up-trending, but the other long term emas are mostly flat, signaling an accumulation / distribution range. Price is topping out having just completed an evening star pattern, but has yet to close below the 13 ema . Price has yet to break the uptrend line, so expect sideways price action, and another stop test of the high, with a trend break, confirming a sell off.

The Market is in a Bull Market on the 4 hour, with price trading above the 50 ema , which is above the 200 ema , which is above the 800 ema . After a Dark Cloud top, price traded down below the 50 ema on the four hour, formed a doji , and will likely reverse back up from here. Probably trade up in the coming week to finish out an M-Top formation, before resuming the greater down-trend.

This is my SOYBNUSD look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.

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