machintose

Week 17: ZSK2021 No point of return sighted (yet)

CBOT:ZSK2021   SOYBEAN FUTURES (MAY 2021)
Last week right after the Asian market open, the weekend gap was filled, our $1440 Decision Point level was breached and it went up to the moon.
There were no sign of weaknesses yet, bullish momentum was strong on each upward push.
Today the market was opened with a gap up again and as I am writing this, there is no sign of reversal yet; therefore we stay put and see the price action in the next few candles.

My new pivot line is at $1536.

Let me know if you have other views or comments.