July Soybeans rising higher. Potential target 990'2 to build out a Bearish Cypher.
Soybeans settle into their "normal range". Time to sell straddles or strangles.
Nice position to try long from here (945). Stop below 935 (daily close).
May Soybeans has formed a series of long legged dojis at the end of a completed bullish Butterfly that are rising. This could be a rising flag that will create further downside selling, or turn to and upward movement. Waiting for confirmation. Open Interest is slowly rolling suggesting a turn, and RSI is very bearish. Today marked a harami reversal pattern. We are...
Look forward for gain starts in early April
May Soybeans is closing in on the final steps for a bullish Gartley. Support is at 1036. Price action could push this lower to trend line. 20 day moving average has rolled bearish. Brazil crop 25% in and sees this crop big. Look for USDA speech on Thursday for 2016 numbers and 2017 projections.
Soybeans bullish Gartley was adjusted up after making a top on Monday. Higher price was rejected Wednesday. How far this falls is conducive on Soybean sales and the crop being taken off in South America. 1036 would be a good area. Open Interest is rising supporting fall. "Brazil is harvesting a big crop but rain the next few days could slow that process. USDA...
Breaking down from a corrective move suggesting the the down trend will resume.
Since october we have been moving in a sideway motion. I think this range is coming to an end. The bulls dried out the bears, and are now ready to take the price to the next level higher at 360. The impulsive breakout yesterday is paving the way for more gains to come. Note the bullish hidden divergence, which also shows the increasingly strong hand of the bulls...
Thursdays report came in today. March Soybeans up sharply with a bullish USDA report pushed down production estimates lower than expected. Changed pattern from butterfly to Cypher pattern with extension. Next target for bulls is in the 1060 area.
First of all, this is a late analysis but it shows a simple textbook style breakout therefore we would like to share. 3 days ago price broke the wedge and the 200 ma down. Next day a little pullback (should have sold here) and another strong bearish candle. If this gives another chance we would think about selling this close to 200 dma. For now this is a sell
All things are clear on the chart. Good luck, Ali Sharifazadeh, CFTe
Is soybeans setting the stage to make another run at an upper channel line of resistance started with the August 2012 high? Current weekly and daily action looks like this is the case. Should price continue up, how it responds will indicate if new shorting positions should be taken of existing longs can be held. Another option would be to hold longs with this...
This weekly chart reveilles what happened after price shoot up...80% to the centerline as we know. Unfortunately it never gave us a chance to profit from this straight way up. The only potential, riskier entry would have be taking the test/retest at the up sloping A/R. Price reached the centerline, bounced back down, did a textbook retest of the zoome centerline...
I'm watching soybeans for a pullback on stoch and for ADX to move over 20 with +DMI holding. A move up in price after this scenario could be a buy signal.