machintose

Week 26: ZSN2021 Consolidation week

CBOT:ZSN2021   SOYBEAN FUTURES (JUL 2021)
If you are still holding your short position from last week, it is time to manually close it.
The price was stopped at $13.28 area where it formed "W" or mini double-bottom; does this mean a reversal to be bullish?
My upper limit is at $13.82, if the price breaks and close higher that $13.82, then YES, it is likely to be bullish .
However, if the price broke the yellow box / support level , then downtrend will continue.
Therefore, this week we just wait until it breaks, then we follow the market direction.