I have been looking into different assets to play in these uncertain markets. The grains have etfs with options that track futures so here it is. SOYB tracks tracks front month soybeans so thats the play. I like that these have held the 200 day moving average and retested. The 50 ma is quickly heading higher as well for a golden cross forming in the near future. 920 was a significant resistance that was easily broken. With a weaker dollar coming into play these commodities will be boosted. Im looking for around 950 on beans, a hefty target, I know however they have not been good to this product in the last year.
Comment:
Well, I’m gonna chalk this up as a loser. A huge rally in the dollar slammed all grains today. Oh well, on to the next.