Type : Bearish Momentum
Resistance : 1540'4
Pivot: 1494'0
Support : 1424'6
Preferred Case: On the H4, with price moving below the ichimoku cloud and within the descending channel , we have a bearish bias that price will rise and drop from the pivot at 1494'0 in line with the pullback resistance and 50% fibonacci retracement to the 1st support at 1424'6 where the...
Type : Bearish Momentum
Resistance : 1540'4
Pivot: 1494'0
Support : 1424'6
Preferred Case: On the H4, with price moving below the ichimoku cloud and within the descending channel, we have a bearish bias that price will rise and drop from the pivot at 1494'0 in line with the pullback resistance and 50% fibonacci retracement to the 1st support at 1424'6 where the...
Soybeans
Technicacls: The market sling-shotted higher last night. Our first resistance in Friday’s report was 1495-1505. Our next resistance pocket didn’t come in until 1560-1566, which the market came very close to tagging last night. As with corn, we are in the sell rallies camp. A conviction close or consecutive close back above $16.00 would neutralize that...
Soybean price rebounded from previous swing high
Price may retest trendline above and probably breakout before another pullback into the range.
Bearish momentum may go a bit further..
Soybeans
Seasonal Trends in Play: Short November soybeans from 7/1-8/31. This has been profitable for 13 of the last 15 years with the average gain being roughly 40 cents, or $2,000 per one 5,000-bushel contract.
Fundamentals: Yesterday's weekly Crop Progress report showed good/excellent conditions at 63%, this is a 2% drop from last week and 1% lower than...
Soybean chart currently approaching a significant area - reversal zone.
The bulls might run for a while. Will see if bearish structure and momentum come in later.
Soybeans
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 29,914 futures/options contracts through June 28th. Majority of this was long liquidation, 26,432 contracts. This shrinks their net long position to 124,498 futures/options.
Fundamentals: Late last week there were rumors circulating that 8 cargoes of soybeans were...
Type : Bearish Momentum
Resistance : 1580'4
Pivot: 1495'1
Support : 1420'2
Preferred Case: On the H1, with price moving below the ichimoku cloud and along a descending trendline , we have a bearish bias that price will drop to the pivot at 1495'1 in line with the swing low support. Once there is downside confirmation of price breaking pivot structure, we would...
Type : Bearish Momentum
Resistance : 1580'4
Pivot: 1495'1
Support : 1420'2
Preferred Case: On the H1, with price moving below the ichimoku cloud and along a descending trendline , we have a bearish bias that price will drop to the pivot at 1495'1 in line with the swing low support. Once there is downside confirmation of price breaking pivot structure, we would...
A very strong descent and now we are seeing a strong correction and then we may see a strong movement and we need patience and we are likely to get a strong and fast landing in case the support area breaks down.
Type : Bearish Momentum
Resistance : 1579'0
Pivot: 1495'2
Support : 1426'0
Preferred Case: On the H1, with price moving below the ichimoku cloud , we have a bearish bias that price will drop to the pivot at 1495'2 in line with the swing low support. Once we have downside confirmation that price has broken past pivot structure, we would expect bearish momentum to...
A simple strategy to sell below a fractal (prior low on the chart) below 18 SMA
whenever there is a backardwardation (ticker2!<ticker1!) is currently highly profitable on
Soybeans, Corn, Naturals Gas, Cotton
Some weeks ago the stategy was profitable on 30 year bonds.
On other futures contracts the contango/backwardation might not work as relyable as on the...
Soybeans
Technicals (August): Yesterday’s USDA report put some pep in soybeans step right out of the gat, launching prices all they way up to technical resistance near $16.00. This is obviously a psychologically significant level, but it also represents the 50 and 100 day moving average, along with the breakdown point from June 22nd. Despite the friendly report,...
Soybeans
Fundamentals: All eyes will be on tomorrow’s USDA report. The range of estimates for planted acres is 89.2-92.4 million, the USDA was at 91.0 in March. The average estimate for US soybean ending stocks as of June 1 is .954 billion bushels. Last year at this time we were at .769.
Technicals (August): The market has rallied back to our resistance pocket,...
Soybeans
Fundamentals: Soybean futures are higher this morning after yesterday’s crop progress report showed a drop in good/excellent conditions of 3%. Keep in mind that we are still 5% better than where we were at this time last year. All eyes will be on Thursday’s USDA report. The range of estimates for planted acres is 89.2-92.4 million, the USDA was at 91.0...
Soybeans (July)
Technicals: July soybean futures got hit hard last night and remain under pressure in the early morning trade. 4-star support from 1644 ¾-1650 looked as though it would hold into options expiration, with yesterday’s low coming in at 1647 ½. Those hopes evaporated quickly last night as the breakdown below support accelerated the selling, taking us...
Soybeans
Technicals: Soybeans broke lower yesterday, trading right into our 3-star support pocket, 1673-1679 ½. The Bulls have been unable to defend that pocket in the overnight/early morning trade which could take us to our next and more significant support pocket, 1644 ¾-1650. This pocket represents previously important price points and the 100-day moving...
