A position trade on the daily chart of Soybeans CASH/FUTURES ZSF

Basis the Kondratieff cycle position we are currently in the summer season (The season of high inflation) which means higher commodity prices. If the preceding Kondratieff cycle is used as a reference or analog we will realize that during the early portions of the summer season agricultural prices advanced the most up to a point (1973) which was then followed by a bull market in precious metals after a relatively minor bear market. For now the structure on agriculture is quite clear for the coming year or two. We see the main trend as up with significant resistance at the all time high which marks the top end of a range that we have been in since the 2008 high was realized. I believe that we are now in intermediate degree wave one of primary wave 3. I hypothesize that minor wave 3 has begun as of the lows experienced on the 28th of June. We are likely to continue on higher from current levels to test the all time high experienced on Soybeans CASH and Soybeans futures.