July Soybean Meal Head and ShouldersMeal broke uptrend and neckline of H&S. Waiting for confirmation to break S1 at 373.9. Bullish Cypher possible pattern. Market under the 20 day MA. Minimum target height of shoulders at 365.2Shortby hopscotchUpdated 442
July Soybean Meal bullish GartleyJuly SM is nearing breach of 20 day MA. Either we will have a bounce using 20 day as support or a breach. Fail twice at highs of 397.6 and double top rejection would gives us hope of breach of 20 day and Gartley. S3 should take us to oversold RSI.by hopscotchUpdated 2
May Soybean MealMay Soybean Meal Elliot Wave Head and Shoulders. Meal looking to break 20 day MA. Two outcomes possible, Wave rise to R2 - R3, or H&S. In theory wave 5 is shorter than wave 3, so both may occur with a final H&S.Shortby hopscotchUpdated 0
Soybean Meal Elliot WaveMay Soybean Meal Elliot Wave creation. Initial target R2 at 416.5.Longby hopscotchUpdated 0
ZM Soybean Meal Futures Buy @375.50 ZM Soybean Meal Futures Buy @375.50 I may be a day early on this, but I am going to give it a go.Longby priceaction357Updated 2
SOYBEAN MEAL (ZM) 396 SHORT, STOP on (412)SOYBEAN MEAL (ZM) 396 SHORT, STOP on (412)Shortby victornewmanUpdated 2
Soybean Meal Elliot WaveMay Soybean appears to be creating an Elliot Wave. Gap up day suggests higher highs to R3. Bullish Cypher possible pattern, which may form a head and shoulders. Uptrend in play. Longby hopscotchUpdated 1
Soybean Meal Bearish ButterflyNew pivots have arrived and we are projecting Bearish Butterfly for Meal. RSI rolling downwards. Meal dependant on Argentina weather and purchases. See Meal bullish long term to at least R2 at 355.8. Downside target right now at 317.6. Volatility is high and again dependant on the factors stated. by hopscotchUpdated 1
Soybean Meal Bearish ButterflyA potential bearish Butterfly for Meal crossing over pivot. Upside target R1 at 341.6 where RSI should top out. Shortby hopscotchUpdated 0
SOYBEANMEAL...looking for breakout and selling down trend ...enter to sell after sure breakout Shortby pardis14
June 2017 Soybean Crush Spread TradePM's Crush Spread (+1 ZS Soybeans, -1 ZL oil -1 ZM meal to sell this spread). September 2017 futures contracts. This chart is weighted by Market value of each contract (the y scale shows profit / loss per 1 lot). 1. Seasonable window for lower prices in this spread from end of May until end of June. 2. RSI Divergence. by piprelocator1
CBoT soyameal weeklyThe weekly continuation chart especially shows that there is not such awfully much to show. There is a gap between, roughly, the 450 and the 465 level and the rules of TA teach us that gaps always are filled. Regretfully, however, same TA rules do not teach us when that gap has to be filled so that doesn’t particularly help us a lot here and now. Price has developed an ascending price channel that is drawn in the chart with dashed lines and that is rather wide due to the rally during April/May 2016 so the upper boundary of same channel does not help us too much here either. The lower boundary of same channel, however, shows various supportive points during February/April 2016, during September/October 2016 and during January 2017. During the past 7 weeks, price has been moving rather sideways within a channel between, roughly, 330 and 350. We have coloured a green triangle between the lines which represents a strong supportive zone between, roughly, 330 and 320 during the coming week. The most logical move to expect from here and now is a possible further decline of price into its support and a bounce up from there with, possibly, 400 or even up to 475 as target. Too early to assume right now but to keep in mind as possible future play.by Remko2
CBoT soyamealThe daily MAY17 chart does not tell us anything material other than that there is an ascending supportive trend line that starts at around 201 during October 2016 and supports price during January 2017 at the 313/315 level. Price would meet support again at around the 322/324 level during the coming week. by Remko1
Soybean MealThis market is a little more interesting than Soybean commented. The downward trend is slowing and candles are starting to rise. This market may be ready to move to higher prices off of the bullish flag. Meal will either produce a double top reversal, move higher into a Butterfly pattern or crash completely. Soybean Meal like Soybeans are moving against the huge Brazil harvest. by hopscotch2
Soybean MealMay Soybean Meal also has a bullish flag. Next target for bulls is 360. As stated in my Soybean comments, Brazil and Argentina are harvesting so this price action may be under duress. Gartley pattern has completed. Longby hopscotch2
Soybean MealMarch Soybean Meal up sharply on USDA report. Next target for bulls is the top of previous high at 331.6Longby hopscotch1
March Soybean MealSoybean Meal saw a little gain today. The candle created did not reach 50% of the previous day candle. There is a downtrending wedge here that has been indicating further downside, but bulls have supported this market and Soybeans for quite a while. We are all waiting for the Thursday USDA numbers. There are two patterns overlapped here, both indicating a bullish setup. Unfortunately it will take a lot to make this market go lower before Thursday. More chop ahead. by hopscotch0
March Soybean MealMarch Soybean Meal is wedging down and looking to complete an bullish Cypher pattern that has been going on for quite a while. Don't be surprised if Monday is another up day followed by more chop. If bears can push it lower, look for 304.2 as a target. Shortby hopscotch3
CBoT soyamealSoyameal: Soyameal price has not been following our preferred route on the chart and price has been taking out some very important supportive levels lately. The bottom of the story is the same as with soybeans but with the values of the soymeal contract. For now we look for price to drop another 3-5% during the come 1 to 2 weeks after which we will see whether we can try to name a tradable bottom again or whether we should start considering an alternative scenario. Pivotal resistance is at 324 basis the March contract.by Remko1
CBoT SoyamealSoyameal: Price has developed an ascending channel during the past months with higher highs and higher lows that look quite similar to the soybean picture. Like in the soybean chart, the EW current EW count suggests that price is in the start of its 3 of 3 wave which should lead the price to substantial higher levels from here which could easily add 30% to today's value before the spring starts. Price is likely to continue trading up from here but could, under lead of the soybean price make on more dip as well. We keep 309/308 as the point where we will reconsider our bull scenario. We consider the 350 level as our first target during the first half of January after which price can make a corrective move down before it continues trading up. Longby Remko3