I have "bean" watching Soybeans for sometime now. I see price has entered an area of resistance, has hit a whole number of $12 and my heatmap indicator is showing divergence. Price has fallen through my trendline. I will be going short. On the daily charts, a couple of shooting stars are present. Enjoy!
beans are getting close , wait for price to enter the area and daily needs to bid above the open
BIG down day today for beans. Looks like a weak Argentina crop cant compete with a +500bu carryout in the US. And talk of farmers increasing acres... How is the thought of that going to help things. This tariff talk... Not going to be friendly in regards to US exports to china. And about those technicals... I mean come on. This market was OVERBOUGHT. end of...
The history repeats. Next 7 Months we will see escape of investment from cheap coins like Bitbean resulting to up to 90% lose like it was in May December 2017
Seems BitBean is also under trend "buying and pumping cheep coins". Be careful, Bitbean has very limited potential and have only one developer improving the code. The Deadlines in Roadmap hold very rarely if ever. Especially renaming it into CASH could result to shitstorm like it is against bitcoin cash.
Some chart analysis of JO... Short term supports and resistances as well as long term trend shown.
I've included several charts here that high-lite some of my current thoughts on Soybeans. Starting with the monthly chart and then working through the weekly, daily, and then 4hr that has some thoughts on entry into the market to long side. Weekly: Daily: 4hr:
If this can get back to a $5 will go long front and short back
I believe soybeans are staging to have the largest run up since 2007 Daily Since Sept, indicators (slow stoch, TSI, and RSI) have been diverging with price. Additionally, the 9 and 20 period EMA on price have crossed and turned up as well as crossing over the 50P EMA. In Oct, the ADX dropped below 0 signaling price consolidation. On 10/17, price broke...
The beans are a bit long in the tooth. A topping pattern is playing out. We want to be short (small size) for a short term reversal.