View On Soy Bean (19 Oct 2021)
We are seeing the potential bottoming in the soft-commodities and it is about go back UP higher.
For the starter, reclaiming the previous resistant of $1,280~$1,300 shall be easy.
We shall see further bullish signs soon.
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Just bought some Soy futures as it is bounced from the major support @1370 and the trendline. RSI pointing upwards and above 50% line therefore a good signal for continuation of the move. Soy just bounced from the daily pivot if you'll like to look at that as well. Target is around 1420 next big resistance where it can slow down, so I will close my position there...
Triple Top Breakout
Soy futures are breaking out
A very nice triple top formed and this is happening as DXY is consolidating.
We may see an even bigger move to 1500+ if the volume can keep up.
I made an entry 350 bushels @ 1445
View On Soy Bean (5 JULY 2020)
We had a big deflationary shock last March but moving forward, we will likely to witness inflation and stagflation in the coming months.
We are seeing that the food prices are going to go ONE Way. UP.
There will be minor pullbacks along the way but, it's better to stay on the long side only at this moment.