Type : Bullish continuation Resistance : 1747'2 Pivot: 1656'0 Support : 1625'6 Preferred Case: On the H4 chart, price is near our pivot of 1656'0 in line with horizontal overlap support and 38.2% Fibonacci retracement . Price can potentially rise to our 1st resistance level at 1747'2 in line with the horizontal swing high resistance and 78.6% Fibonacci...
On the H4 chart, price is near our pivot of 1651'2 in line with horizontal overlap support and 38.2% Fibonacci retracement. Price can potentially rise to our 1st resistance level at 1739'0 in line with the horizontal swing high resistance. Alternatively, price may head to our 1st support at 1582'6 in line with the 61.8% Fibonacci retracement level. Our bullsh bias...
Title : ZS1! (Soybean) , H4 awaiting bullish confirmation Type : Bullish continuation Resistance : 1755'2 Pivot : 1632'4 Support : 1578'2 Preferred case: On the H4 , price is near pivot level of 1632'4 in line with 61.8% Fibonacci retracement and 161.8% Fibonacci projection. Price can potentially go to the swing high support of 1755'2 in line with 78.6%...
In daily Chart we are seeing an RSI divergance combined with high selling volumes, a bearish candlestick top, as well as a RSI divergance between highs from May 2021 in the weekly chart. The area of resistance is valid since 2008. I think we will get a small pullback before breaking the risistance later this year, if a financial recession occures in a few months.
So my original prediction of a Soybean Sell Order is certainly delayed for a few weeks and maybe even a month or two. As you can see from the monthly chart, we are on our way to levels not seen since 2012, almost 18!! We did have a couple days of some dramatic fall in price, but then right back up again. So I will delete my original Sell order and wait for a...
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...
The world in general, and fertilizer prices in particular, are alleged to be going to Hell in a handcart. Infernal scenarios aside, a mean-reversion buy in soybeans off the bottom of the current trend channel could make sense. Beans have been a bit volatile lately, so watch this trade if you make it.
Soybeans have been on a tear for over a month now. Apparently weather is to blame around the world. Too much rain in some countries and too little rain in others. China has just released tons of Soybean from their reserve supplies to help fill the growing gap. Word is it's going to be Mid March at least before there could be any relief. By then, I believe my...
looking higher for wave (iii) of v of 3, critical support at 1381.2
This chart is an attempt to interpret market conditions and discussion of market action based on Elliott waves, not as a trading recommendation. If you have an opinion welcome to comment. regards
The 2022 growing season for soybeans is still a good way off. Keep an eye on currently falling prices. Consider going long when prices move back up into the trend channel.
ultra volume on a wide-scale candle and then came a test candle to show the power of sale succeed with a red candle afterwards
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...
November22 Soybeans – Weekly: New Crop beans quickly moved up to fill the primary (162% retracement) target at 14.14. I usually wait for confirmation of a swing high before running retracement targets for support, this market is moving fast. What to do??? There is still time in February to lower the insurance average. Look at Short Dated puts to get through...
March Soybeans - Daily: Trying to measure upside targets on beans seams futile on a daily scale….. But we try From the May21’ Swing high at 14.45 to the Nov21 Swing low at 11.93, March22 Beans filled the recent target at 16.01. On the more precise scale on the right, we look at the consolidation before Monday’s gap higher to measure a primary target at 15.86...
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….
You can see that price action soared way above the Linear Regression Indicator this week and has been on a tear for many weeks just going to the moon. I am waiting for price action to finally come down - today it started but I'm not sure when I will short this trade. Next week will be the earliest but it might be March. You can see this is the weekly chart so...