Read articles here , here and here . It has since gone up 20+% since the low in March around 790. I think this bullish trend is far from over and there are still ample opportunities for traders who are keen to long it. I would await for a correction (around 960) to get in. At this juncture, I think it is a little overbought and a correction is necessary...
ZS1! (SOYBEAN) is in a correction of the intermediate (4). We finished Minor wave 5 as an extended wave and I am considering the 4th wave as a complex correction because of the extended 5th wave. We can go around 38% to 50% of the Fibonacci which is 1473 to 1423 for finishing the correction of the 4th wave. This correction will a time consuming also. As an...
Soybean – Weekly Cont: Price accelerated from the 50% retracement and resistance level at 14.24 up past the cloud and quickly filled the next primary target at 16.12. Last spring beans spent a few weeks above 15.75, but with light volume. No telling if beans will chop around into a consolidation pattern to give us time to better guess a direction, or if it...
Looking at the same parameters as we did for the Corn: I didn’t show a 200% or 300% rate of change as I did with Corn. Instead I show that it would take a 107% rate of change to match the 2012’s 17.89 high. **A 200% gain would place Beans in the mid $20’s….
Soybean – Weekly Cont: The High to Low Cycle appears complete (for now) with the break above the downtrend and 24% retracement. Beans filled the 38% target with a 13.84 high. The close last week is concerning as it left a doji like formation that could be cause for a change in trend??? Beans need to get above 13.84 (preferably a weekly close) to negate this...
Current Market Structure: **(Like Corn) Sensitive, with extreme bandwidth** The current Domestic and World Supply & Demand numbers paired with recent inflationary threats support a price base range (IMO) from 10.00 to 12.00. Currently risk has been to the upside and inflationary threats elevated, keeping beans elevated as well. There are to many variables...
Soybean – Weekly Cont: Soybeans struggled to get weekly closes inside the cloud and now working to break below the blue Tenkan line. A High to Low cycle needs to see a break above the trend line and above the 24% retracement to move out of bearish territory. The failure below 12.96 suggests we are not bullish. A weekly close below 12.30 targets the 11.81 lo. ...
Current Market Structure: **(Like Corn) Sensitive, with extreme bandwidth** The current Domestic and World Supply & Demand numbers paired with recent inflationary threats support a price base range (IMO) from 10.00 to 12.00. Currently risk has been to the upside and inflationary threats elevated, keeping beans elevated as well. There are to many variables...
Soy Crush: Crush demand remains very strong currently at 1.66. Strength in Crush margins can come on the backside of strong moves lower in beans. Currently crush is high due to strong demand for oil and a weaker bean market. If Bean oil holds elevated levels and Meal can find some strength, Soybeans should find a lift higher. Soybeans: Price has retreated...
US Dollar: Usually trends lower into major China export programs. Trends higher after export program concludes. Some resistance ahead. A move lower would help grain exports…. COT: Commercial Net (green) is tipping lower, about neutral. Selling by farmer to commercial met by equal buying of end users. Commercial Shorts (yellow) recently...
Soybean – Weekly Cont: Beans have continued to lean lower since breaking into the cloud several weeks ago. The 12.40-12.60 area is supportive but a move below could take beans to the 11.80 -11.40 area. Resistance is the blue down trending TenKan line currently in the 13.08 area.
Hey there. Just one question, do you see any buying pressure in the Volume Oscillator? No? Yeap me too, so we will strong on short. Price will make(finger cross) a reversal at the trendline and we will be exiting our position in the next resistance turn support. P/S: My position was entered yesterday at 1412.6. The reason why I posted this is because some of my...
7.4.21 MoneyBags' trades: soybeans corn gold Part 1
Last week, the commodities sector experienced more than a speed bump after an extended period of price appreciation. As July soybeans roll to the next active month and the new crop November contract in the futures market, the price became a falling knife before recovering on Friday, June 18. Beans tank They were not the only commodities A Fed hint made its...
Commodity prices are still going, several commodities have gone past all time highs, such as Palladium, Lumber, Steel... And grains are also going up very strongly, Corn hit an 8 year high after 6 years of price stability, and they're all not far from ATH. Corn imports have fallen as buyers are put off by the high prices (they are going against the trend, what if...
This is the type of inflation that the masses ignore, that happens while they cheer at Chavez stimulus checks. Look at images of Venezuela 15 years ago, so many smiles, so happy crowds. While Germans were carrying buckets of cash and starving actually farmers were doing pretty well, they profited greatly. Probably for similar reasons the clueless revolutionaries...