hopscotch

Soybeans running out of RSI - Bull Butterfly

hopscotch Updated   
CBOT_MINI:XKQ2018   Soybean Mini Futures (Aug 2018)
August Soybeans is nearing S3 at 966'2 and almost depleted RSI. This will give us a double bottom and a Bull Butterfly. This market could jump up then continue down into the 954 area and 935, although 935 might be a long shot. We might get a W bottom or sideways channelling down here.
Comment:
Soybeans busted through R3 and headed for 956. This will take it to first tier support tracing back to August 16 of last year.
Comment:
Correction from last comment it should have been S3 not R3. 956 becomes support. If breached Soybeans to 938
Comment:
Soybeans falls further. Now heading for 938. If this is breached we may have a fall to 918
Comment:
Wow, bean fall to 849'7. Looking for sidways moves here.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.