It seems what W. D. Gann
said some half a century ago still holds: "Soybeans is the king." Now this king is still away from a powerful support. It so seems that a 5-wave
move is to be completed by the LMLH. Stoch
seems quite happy and restful in the oversold zone. We are in the sixth narrow monthly bar, and technicians would love to see a NR7 breakout. But what I believe is that we have to be vigilant against a premature breakout, since it is also highly likely here. All in all my sentiment is bearish
. And will be so until we see mid 700s.