Soybean futures prices are continuing to grind higher in the early morning trade, taking prices back towards the upper end of the recent range with more significant resistance coming in near the psychologically significant $14.00 level. We continue to believe the Bulls have the technical advantage so long as the Bulls continue to defend 1315-1320. A break and...
Soybeans have certainly caught our attention as a classic head and shoulders pattern has emerged, suggesting a possible trend reversal. This implies a potential drop equivalent to the height from the head to the neckline, taking us towards the 900 level. Could this be signalling more downside in the soybean market?
The current price action is intriguing as an...
There is divergence between price and oscillators such as Bollinger Band %B, Accumulation/Distribution AD%, RSI, DMI, and MACD. Price has also retested a point of control level just shy of 1400’ after attempting a significant drop down to 1100’. The red circle highlights that the lower BB has curled up after an up move in price suggesting the up move in price is...
The Fed and ECB maintained a hawkish stance but the market pumped anyways. This is beginning to look like a bull flag on tofu futures.
The problem is, the Fed never reduced their balance sheet so there's too much money floating around. www.federalreserve.gov
Get ready for rebound inflation later this year. In fact, it may even show up in June numbers next...
CBOT: Soybean ( CBOT:ZS1! ), Soybean Meal ( CBOT:ZM1! ), Soybean Oil ( CBOT:ZL1! )
Today, I am starting a new series on CBOT soybeans, one of the most liquid commodities contracts in the world. In March 2023, Soybean, Soybean Meal, and Soybean Oil together traded 14.0 million lots, contributing to 42.6% of CME Group agricultural futures and options volume,...
Soybean is among the world’s most traded crop. It is used in various industries. Soybean drives global food prices. It can tilt trade balances of an entire nation.
This paper describes the importance of Soybean. It lists key producers, consumer and maps the harvesting cycle across the calendar by top producing countries.
Given rising Brazilian exports, higher...
ZS1! Weekly - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Trend Lines, Cluster, Confluence, Parallel Channels, Pitchfork, Fibonacci Extension - Hope it Helps, Good Luck
DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided...
As always, when the market pumps the stock market, they also pump commodities.
The commodity pump won't show up in PCE or CPI numbers until at least a month from now, so don't get too bearish too soon. We'll get the ES1! and NQ1! gap fill first.
I see no rate hike in May then we get rebound inflation because of the market pump so another hike in July. That's...
Banks might be toast but the Fed isn't done until tofu comes crashing down in a H&S pattern. If they don't raise rates next week, everything pops back up.
My guess at this point is .25% because the Fed is usually more hawkish than ECB, so I doubt the Simple Jack Powell keeps rates the same. I doubt he does .5% though, that would absolutely tank the market. Of...
No much to say. This is going down very fast. Price is breaking down the falling wedge, and it has a lot of resistance above. Yo can short the ETF SOYB if the futures are too expensive.
now price is above daily 18 moving average and its time to set stop below prior days low.
as you can see from backtest the strategy to go long above an inside day is very profitable...
There are cycles and trends to everything... a price chart is just a recording of this. There is nothing new in the market, there can't be, human nature does not change. Study past patterns, try to figure out where we are with-in that pattern. Plan, implement, monitor and adjust. It's simple, just not easy. Most things are completely obvious once you learn...
Title: Soybean Futures ( ZS1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1535.00
Pivot: 1514.00
Support: 1490.75
Preferred case: Looking at the H4 chart, my overall bias for ZS1! is bearish due to the current price being under the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly drop...
Title: Soybean Futures ( ZS1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1535.00
Pivot: 1514.00
Support: 1490.75
Preferred case: Looking at the H4 chart, my overall bias for ZS1! is bearish due to the current price being under the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly drop...
Soybean short swing trade:
The Bollinger Bands width has narrowed to 2.56% of price which is a level not seen in over a year. A new 6-month or greater low in bandwidth indicates that a volatility squeeze breakout is likely upon us. Similar volatility squeeze situations exist in wheat and corn but they both broke to the downside significantly last week. Wheat...
