machintose

Week 22: ZSN2021 Consolidation period

CBOT:ZSN2021   SOYBEAN FUTURES (JUL 2021)
This week we are anticipating the price to range in a downtrend channel .
If the price breaks the channel (upward), then the immediate target is at $1600 level.
However, if the price continues ranging in the channel; let it springs up to $1540 area, then we can short it (Higher probability it will break the support level ).

For now, just wait and see.

PS: If you are still holding your BUY/LONG position from last week, close it manually at $1545.