phmattjie

Soybean's harvest low offer potential upside

Long
CBOT:ZS1!   Soybean Futures
Soybeans has hold on the bottom of its long term uptrend and now is showing us signs to go long:

Technical Weekly
+ Bullish Engulfing candle pattern
+ MACD bullish crossing (about to happen)
+ RSI bullish divergence
+ RSI Oversold
Technical Daily
+ MACD bullish crossing
+ MACD divergence
+ RSI above 40
+ RSI bullish divergence
+ Stochastics bullish crossing
Fundamentals
+ Good up movement on Friday,November 7th, after a neutral to slightly bullish USDA report
- S.America planting season on perfect situation
- Record S.America crop
Seasonals
+ Soybean's harvest low offer potential upside
+ Oct historically 66% up months; Nov historically 57% up months


Entry point: a daily close above 1318'6
Stop: a daily close below 1296'0
Target: after bearish signals (to be defined)


Any other idea ?
Please, feel welcome to share.

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