ZS has been showing some impressive relative strength lately due to it's impressive bounce from the low. Despite the large retracement, ZS has been in a state of sideways consolidation and formed a symmetric triangle on the 30m timeframe. This triangle is also forming right below the 52 week highs. If ZS breaks out, the impending move could be powerful. ...
It is forming Eve and Adam double bottom if it breaks above $66.50 and RSI needs to get over 58
The SOYBNUSD, symbol ZS, is in a Bear Market Rally within a long-term Bear Market with price trading above the 50 week ema, but below the 200 and 800 week emas. The long term emas are mostly flat, signaling accumulation / distribution. The price action appears to be finishing up the c-wave of an x-wave before a final y-wave down. The long upwards candle wicks,...
ZS had a gap up due to earnings back on March 1st. The stock saw a rise in price within a bullish price channel but was creating a bearish divergence with the RSI indicator. Even with the pullback, the price remained in the bullish channel until it broke down in mid-August. Another earnings report in September led to a gap down that created an Island Reversal...
Key level: 1082’4 Soybean market has been in sleeping mode since JULY 2018. Uptrend sideways movement that clearly develop into triangle pattern add support to our wave count that soybean are currently in wave (4) phase. By using Elliott rule of “WAVE 4 never enters the price territory of wave 1 and 2”, we can establish a strong invalidation level of 1082’4...
3.5 year chart is setting up nicely over next few months
We have an evening star candle stick up here. Long term trend down. Good opportunity to go with the trend. Future trading involves risk and is not suitable for every investor.
Notes on chart. Futures trading involves risk of financial loss and is not suitable for every investor.
soybeans and many other ags have rallied after dumping on the crop report and is possibly making a trend reversal after months of bearish action. I'm looking to pick up a long on a healthy pullback.
This trade is to try and take advantage of my thinking that the price between the two contracts will become less. This trade could see a large loss, before we see gains, but has a nice margin relief.
In the accompanying chart I show a high probability support zone for $ZS_F Soybeans at approx. $835 - 790 zone. If demand signals start flipping and firing, that may be a good place to go long. Meanwhile, in the absence of any real demand, I can't see a turn around. The recent lows look vulnerable.
After a two week rally, soybean (ZS) is now bumping into downchannel/descending wedge resistance on the weekly chart, which coincides roughly with the 1000 psychologically key resistance level. Weekly RSI and Stochastics are in rally mode, while the MACD which a few weeks back appeared ready for a negative crossover has strengthened again and is sloping up now....