Soybeans
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net buyers of 4,217 futures/options through June 14th. This expands their net long to 163,146. Broken down that is 174,546 longs VS 11,400 shorts.
Technicals: Soybeans are sharply lower to start the week, trading right near the 50-day oving average at the morning intermission,...
Soybeans
Fundamentals: This morning’s weekly export sales report showed net sales of 317,200 MT for 2021/2022 were down 26 percent from the previous week and 16 percent from the prior 4-week average. Net sales of 407,600 MT were reported for 2022/2023.
Technicals: Soybeans are firm in the early morning trade, retracing the losses from the previous two sessions....
On the H4, with price moving below the ichimoku cloud and price recently breaking the ascending trend channel, we have a bearish bias that price will drop from the pivot at 1707'6 in line with the 38.2% fibonacci retracement, 78.6% fibonacci projection and overlap resistance to the 1st support at 1661'2 in line with the 61.8% fibonacci projection and pullback...
Soybeans
Technicals: July soybean futures broke and close below trendline support yesterday which opened the door for additional weakness in the overnight session. Futures have recovered some and trading near unchanged. Previous support is now resistance, we see that first hurdle coming in near 1710. On the support side of things, the 50-day moving average and low...
Soybean daily chart reached swing high and reversed.
With Left shoulder also reversed before and momentum confirmation in daily chart.
A short term bearish momentum may continues.
Disclaimer: This is only for educational purpose and not financial advise.
Soybeans
Fundamentals: Yesterday's weekly crop progress report showed the U.S. soybean crop is 88% planted, 70% emerged, and a Good/Excellent rating of 70%. There were no major surprises here. Yesterday's weekly export inspections report came in at 605,129 metric tons, well above the 365,455 last week and 141,320 we saw in the same week last year.
Technicals:...
CBOT:ZS1!
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Fundamentals: Soybeans are under pressure to start the week, along with many other commodities and markets as last week's outside market turmoil has poured into this week's trade. This afternoon's Crop Progress report is expected to show the U.S. soybean crop near 90% planted. Good/Excellent conditions are expected to come in near 70%. Last year at this time the...
could be a 2B if you're familiar with Trader Vic's terminology and an intermediate trend reversal. Broke the intermediate trend line and now failed to take out the recent high. Fairly tight stop above the failed high.
Soybeans have been consolidating and shorts have been hitting the same level near the invasion day highs for 3 months give or take, today price broke out and confirmed a weekly trend signal. The monthly timeframe indicates beans can rally until October 2022, so, getting lower timeframes to turn bullish again presents us with a massive reward to risk long...
Very strong penetration of strong resistance zones and good rise and likely to complete his strong grandfather rising trajectory and achieve very strong goals
Soybeans (July)
Technicals: July soybean futures were able to defend trendline support in the prior two sessions which helped spark a rally in yesterday’s trade. That rally has led to follow-through buying in the overnight/early morning trade with July futures making new contract highs. The market has been up here a few times in the past few weeks but failed to...
Soybeans
Fundamentals: Yesterday’s Crop Progress report showed that the U.S. soybean crop is 78% planted, 2% behind estimates but only 1% behind historical averages. 55% of the crop is emerged.
Techncials (July): Consolidation looks to be the name of the game as the market is forming a wedge of higher lows and lower highs. This could lead to a bigger directional...
Type : Bullish Rise
Resistance : 1716'4
Pivot: 1702'6
Support : 1675'4
Preferred Case: Price is moving below the ichimoku cloud which supports our bearish bias that price will drop from the pivot at 1702'6 where the overlap resistance and 23.6% fibonacci retracement are to the 1st resistance at 1716'4 in line with the swing high resistance, 50% fibonacci...
If we break the support it will complete the drop to the lowest points and vice versa in case we breach the very strong resistance we will get an upward trend
