- Trend is a trend, until its end. Is the end getting closer? matches Kijun Sen and horizontal key level.
Most important to watch is 32,05!
- Heikin Ashi candle turns red, haDelta crosses down SMA3, the setup is rather again. Question as always is the weekly close, and if Bears can push it down to a lower low later.
- Price trades exactly at equilibrium! Kijun Sen and thin future Kumo stays at same level ard 31,35-31,50.
- Heikin Ashi candle turns , haDelta up. Chikou Span close to Price.
Bears really need to make a push soon, or else they can quickly lose control and capitulate. In case Soybean Oil breaks above 32,05 and later above 32,50, then we wil see a trend break and reversal, a confirmed Kumo breakout on the , with high probability tgt to 35, and lower probability tgt ard 37.
I am watching it for a reversal long trade.
Corn and wheat turned bearish again. However Soybeans holding its strength. In terms of Ichimoku Soybeans is neutral-bullish, while the other two are bearish. I was long few contracts of soybeans from 981, but I closed them (maybe a bit too early) as I saw the other two were under re-newed selling pressure.
If anything, then Soybeans and Soybean Oil are the candidate for a possible bullish break. On the other side you have to be cautious, as it is very rare to see only one of the grains going bullish, while other two are sufferring.
Corn bullish break needs a close above 397-400 (referring to May contracts)