Big noticeable increase of volume and momentum showing retail/traders are coming in after noticing that we going up,
Looks as wave 3 has therefore definitely started! ...and we can project the wave 3 TP @29 using the previous wave 1.
November22 Soybeans – Weekly: A break above the down trend line is encouraging, but Nov22 beans still remain in consolidation (for Now). Previous years High to Low retracements should encourage some initial sales from 12.50 to 13.10.
Initial Upside potential with Primary target up to 14.14, Downside risk below 11.00….
May be good to look at Short Dated Puts...
March Soybeans - Daily: March beans showing a strong move from 11.93 to 13.84. The daily chart shows support at the blue Tenkan line and near last week’s low of 13.34. Further support is the red Kijun line at 13.04 and then the uptrend line. Risk at 11.91 and lower.
Targets above at 13.84-13.91, 14.16, and 14.45. Any New bullish sentiment could find targets...
Soybean – Weekly Cont: The High to Low Cycle appears complete (for now) with the break above the downtrend and 24% retracement. Beans filled the 38% target with a 13.84 high. The close last week is concerning as it left a doji like formation that could be cause for a change in trend??? Beans need to get above 13.84 (preferably a weekly close) to negate this...
Current Market Structure: **(Like Corn) Sensitive, with extreme bandwidth** The current Domestic and World Supply & Demand numbers paired with recent inflationary threats support a price base range (IMO) from 10.00 to 12.00. Currently risk has been to the upside and inflationary threats elevated, keeping beans elevated as well. There are to many variables...
Symmetrical triangle => BULLISH
Break up of the 200-period moving average => BULLISH
Fundemantals: dry climate conditions in South America (Argentina and Brazil) = less production => BULLISH
Well supported by the RSI , which could enter the acceleration movement => BULLISH
Soybean futures has corrected 50% of the previous impulse move that stretched from middle 2020 to May 2021. The latest breakout therefore implies the possibility of a new bullish wave back to at least the previous swing highs @ 1650 with an initial target of 1490. Stops can be considered @ 1198
soybeans look good.
seems like people are waking up to inflation.
i talked about inflation a year ago, before anyone even knew it was coming. time cycles predicted it correctly. historically wars have been started during these kind of times. watch uranus in gemini as that is historically when america had some of the biggest wars (2025-2032)
1760 = war with...
If we break the triangle we can see a up Trend. We stopped at the support line that I mentiond and it looks like we can continue the rally, I mentioned the resistance Levels as first exit points.
November22 Soybeans – Weekly: Consolidation above 12.00 and looking for direction. The blue Tenkan is about to cross under the red kijun. Support is 12.02 and 11.84 with risk down at 11.50. A break below would target the 10.97-10.75 area.
Resistance against the red Kijun line at 12.32 and then the down trending line. Initial targets at 12.95-13.13. Upside...
January Soybeans - Daily: The January contract shows a different picture than the continuous. Jan beans did break above the trend line and 24% retracement, but fell short of the 38% target. The cloud resistance stopped beans at 12.89. The move below the trend line is concerning. There is a Harmonic Pattern potential for a reversal at 11.93-11.81. We need a...
Soybean – Weekly Cont: Soybeans struggled to get weekly closes inside the cloud and now working to break below the blue Tenkan line. A High to Low cycle needs to see a break above the trend line and above the 24% retracement to move out of bearish territory. The failure below 12.96 suggests we are not bullish. A weekly close below 12.30 targets the 11.81 lo. ...
Current Market Structure: **(Like Corn) Sensitive, with extreme bandwidth** The current Domestic and World Supply & Demand numbers paired with recent inflationary threats support a price base range (IMO) from 10.00 to 12.00. Currently risk has been to the upside and inflationary threats elevated, keeping beans elevated as well. There are to many variables...
