I see a sharp ramp up in commodities after Powell's presser on Friday when the inflation metrics come out and he sends a Dovish message (not hawkish enough). The dollar will end up turning back up this summer so I see this upward trend momentarily until after the FED goes in with CBDC's and then commodities will take off. At that point I doubt stocks will exist so...
On the 4H Chart, SOYB has moved above both tthe near and intermediate term POC lines
of the respective volume profiles. Upward price volatility above the running mean
on the relative volatility indicator. In confluence pric emoved above the mean basis
band of the double Bollinger band. Fundamentally, supply-demand imbalances including
the collapse of the...
As a consumer of TOFU (made from soybeans) for years, I am well aware of its health benefits and been an advocate of buying its ETF, futures for some years now.
What is exciting for 2021 is this chart here ! It has broke out of its long term bearish trend in Aug 2020. Well, while the price seems to move up pretty fast from 14 to 20+ dollars, there is still 8+...
You know what is! Another Bullish Move
Reasoning
Whole Industry is moving!
Flat or XYZ Consolidation seems done
Correction is not overextended
Double bottom with second low undercutting the first
Several weeks of consolidation, seems like a huge move coming
Divergence on Composite Weekly Chart!!
My Would Be Trade Plan
Look for a good...
Trying some commodities plays going forward.
SOYB is one I took in the early aftermarket .. looks worth a shot to me . It's the second wedge drop/ wedge pop setup after the lockout, first was march 22 (note the WD that occurred) .
Entry here in AM at - 10.37
Stop - 26.99
De risk 28.07
Chart Legend
IBO = initial breakout
BO = Breakout
E = Entry I like
2012 chart pattern being repeated for the SOYB fund. Estimated 4-month holding period before another correction takes place. Taking a long position on the head of a potential head and shoulders pattern. The regression is 0.04 less (0.958 vs 0.914) than 2012 so made an adjustment to the estimated holding period from 3-month to 4-month. Placing stop loss at the...
Took profits on my SOYB position for some nice gains considering a lot of downside in the equities market.
On a monthly time frame, SOYB is approaching resistance zone so I took profits and will be watching to see how price reacts here.
I'm expecting retracement / consolidation here before continuation to the upside or back down from profit takers and sellers...
Going long (commons) on SOYB
Agriculture looks bullish and I like the textbook breakout here. Also with equities wavering, SOYB DBA CORN agro charts appear more bullish to me IMO
Respect the stop loss and but give this trade idea time, she's not always the fastest mover
Broke out of the primary downtrend back in April. Consolidated a bit and now breaking out of the consolidation. Food prices probably going up (more) soon imo. Corn has a similar look.
(1) Futures Technical Analysis
Bullish triangle with RSI breakout.
Enought space for bullish move.
s3.tradingview.com
(2) SOYB trust fund
I've skipped the futures instrument, because I'm not like options on futures.
My choice for Soybean play is $SOYB with relative high IVR value.
Optimal for Short Put Vertical strategy, similar TA here, with RSI...
why did i but soybeans??
well its the number one thing used in Vegan veg food like tofu and other things of such.
with the moment to the veg life i would only assume that the demand for soy would only go up:)
also wanted to diversify my portfolio more so i decided to buy this!!!
Good one to keep your eye on. Some fundamentals could add up to the price of soy going up soon, dollar intervention, potential trade war agreements, loss of pork in China, cold weather in the US that Dept of Agriculture has not updated the forecasts on yet. Certainly worth keeping an eye on!
