Soybeanmeal CBoTSoybeanmeal: Price has reached our target during the past week and showed a very strong performance during Friday's session. Price made a 50% advance in just 6 weeks (!) and we believe it is time for price to make sizeable move to the downside from here. However, as long as we do not see a reversal pattern being drawn on the chart we will have to wait for an even more overbought status. The sign goes on 'neutral' from here and now and we are going to wait for a short trade set-up.by Remko0
Soybeanmeal CBoT N16Soybeanmeal: Price practically reached our target already during the past week which came earlier than what we expected. The development of the price move of the past week suggests that there could well be one more swing up in this chart before price will start a sizeable decline again. We would like to see a close of some 10 dollars above the current levels during the coming week before we start looking for a short-term bear scenario. by RemkoUpdated 0
Soybeanmeal Long PlayPrice did not make the corrective move down to 315/305 last week as was preferred by us but rather traded a sideways pattern between, roughly, 336 and 350. This price moves very much like the soybean price which is not so uncommon. We are adjusting our short term bias a bit and we are now looking for a move further up from here although we do not want to exclude a test of last week's low one more time before price will start trading up next week. We are putting our price target at around the 370/375 latest by the end of May with is some 8-10 percent up from the current level. Longby Remko0
Soybeanmeal in corrective move downSoybeanmeal: Price has made an impressive rally up during most of April and its indicators like RSI and MACD have reached oversold area (not displayed on the chart). There is a solid supportive level at around the 300 mark which is about 10% down from the currently traded price. We favour the theory that price has completed its B of (4) and that price is now at the start of C which should take price, preferably, below 308 after which there is room for the next hike up. However, price could be developing an 'expanded flat' here in which case price would probably not trade below 315 before it reverses back up again. In any case we favour a corrective move down from here to the 315/305 level during first half of next week from where we favour a reverse for completion of a (5) and with a target of at least 350 during late May or early June. On step at the time however and let's first see how next week goes.by Remko1
Beans bottomingPossible bottoming of bean complex. Breakout of trendline would be the final confirmation.by LEONES114
Bean meal moving lowerBean meal ZMK15 out of a triangle formation since mid march 2015. The current price action and re-test of the upper parallel suggests more downside. Targeting the median line by the end of the month (300.0)Shortby LEONES0
SOYBEAN MEAL (ZMZ2014) back to median lineSOYBEAN MEAL (ZMZ2014) is pulling back to the median line. 345.0 is the target. The recent price action (from 28Oct2014 to 03Nov2014) is a reversal pattern that can be better evaluated in the hourly chart. Shortby LEONES442
Soybean Meal /ZM possiblity of entering textbook resistanceThis could be possibly the easiest short out there on the futures markets. This resistance area at 340 was tested as support numerous times and held until September. It has yet to be tested as resistance. Usually the first touch of support-turned-resistance holds very strongly as multiple traders will be looking at the same area to enter short. Target is a significant move lower from this area, that could change of course depending on the price action following an entry of the trade. Stop is simply above the resistance area. The risk/reward for this trade is phenomenal due to how clean the resistance is.Shortby Talon0
Soybean Meal ZMZ2014 (re-revised)Soybean meal (ZMZ2014) has been in consolidation phase from mid July to mid Sept 2014. Many false breakouts during this period. Finally rolling to the downside. Shortby LEONES111
Soybean Meal ZMZ2014 (revised) -the void below and the sky aboveSoybean meal (ZMZ2014) has been in consolidation phase from mid Aug to mid Sept 2014. A tringle pattern formed betweed mid July and mid August and is ready to breakout in either direction. Looking at the RSI devergence and at the bear trap on the 12 Aug 2014 this seems to be more a bullish set up supported by the typical seasonal low (end of the harvest). On the other hand we could have of the largest soybean harvests on record. Can be played both ways basically.by LEONES112
Soybean Meal - the void belowZMZ2014 - Soybean Meal triangle pattern ready to breakout to the downside. I was in doubt after the false breakout on the 12Aug14 but the down pressure is resuming and will probably continue. No support below 340.0. Shortby LEONES220
Soybean Meal toppingGrains are getting weaker but bean complex seems not giving up yet. Soybean meal contract (ZMN) is probably forming a top. Price bounced back for five consecutive days from 477.0 creating a nice floor. A trade below 477.0 will brake the support projecting price towards the next level and bear 1/2 Gann line. Not a seasonal trade but price are almost at historical highs. A trade higher above 494.0 would negate this study.Shortby LEONES330
Healthly Bean MealSoybean Meal essentially double topped between Sept and Dec 2013. Now trading below the 20EMA. The next move will be towards the down sloping median line. Watch out that trendline. Major lows a typically posted in February in the beans. Weakness across the grains.Shortby LEONES220