againstthegrain
Long

ZS upward "C" wave to come (???)

CBOT:ZSH2015   SOYBEAN FUTURES - ECBT
Soybean has been a tough market for those traders seeking volatility as it has been on a “wait-and-see” mode for a couple of month now. I do not expect any major movement on the short/mid run; however, I do see a possibility to “widen” the current trading range.
The wave counting above suggests that a B wave would be completed (or nearly completed) and a possible upward C wave would be on the radar screen. For those (unlike me) seeking short-term opportunities it may be a good commodity to keep track on.
I am still holding my long position with stops on a range around 920, although I confess the weekly chart does not look that bullish . In fact, the MACD divergence is killing my sleep lately.
See my comments on ZC             at:
We may see a “Pop” in Corn (???)

Olu
2 years ago
Hi A. We seem to be interested in the same set of commodities. Again the price action in soybeans is bearish here imho and needs a little something to rally. Against the 5 wave upmove this retracement(?) is getting pretty deep. I am expecting an upmove but as you said if 920 goes then my idea is wrong
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againstthegrain Olu
2 years ago
It has been a tough market to read. The 920’s is definitely a level to keep an eye on. Thank you for your comments.
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