Soybean futures in the CBOT will approach the late 2015 levels of 800-850. The last time this downward support was crossed was in 2004 and it was a big downward trend of -35% with good short entry opportunities. This position is correlated with our medium-term view of bearish commodities in the next 6-7 months with a bullish USD and a bearish EUR. Our target is a...
Prices came up with strong bullish momentum yesterday amid China-US trade negotiation will have better outcome. From the technical analysis point of view, the bulls momentum will continue if it break and stay around the trend line again today. Consider the US midterm election is around the corner, bulls may continue around the 900s.
This week price closed with strong bearish momentum after hitting the reversal zone. With production estimated up, and uncertainty with China trade, the bearish momentum may push further to 854 - 820 level in coming weeks. Looking to complete the downward range to -27.2% level of the weekly Fibonacci retracement range.
Price at 38.2% of current Fibonacci retracement range, momentum still unclear at the moment. However the bearish momentum from previous candles (from the significant level and reversal zone above) may continue.
Price hit 2260 at the top of the trend line and reverse back into the range today. Price closed respecting the channel and the significant level at 2238 (again), and is Holiday tomorrow. Moving forward to Thursday, we may see bearish momentum pushing it towards bottom trend line and start moving in ranges, before any news / data releases that will build up any...
FCPO daily opens gap up due to fundamentals, following CBOT bullish momentum and Indonesia palm oil stockpile down m/m. Another reason of reversal was price hit the bottom trendline from Chart W1. Price may move in ranges if it reaches 0.0% level.
Price rebounding from Fibonacci -27.2% level last week and may turn bullish for a while before hitting the 0.0% of the range.
B&B Pattern. Trade setup with Buy Limit position (EP) at 25387 Stop Loss (SL) at 24531 and Take Profit (TP) at 26186. Money Management I have 22,800 USD in my portfolio. I can lose 10% of the port which is 2,280 USD. I will Trade MINI DOW JONES ($5) Position Sizing 1 Tick = $5 1 Contract size need IM = $3,685 (I can open not more than $22,800 / $3,685 =...
As the market made lower lows, the MACD indicator made higher highs. This is very powerful bullish divergence. Circled is where the MACD crossed over to the upside, further indicating bullishness. Stops should be placed slightly below the most recent low of 429'4, which occurred on March 31. Profit targets are at the Fibonacci retracement levels. Target 1 -...
The weekly continuation chart shows a very interesting picture with a long term resistance trend line that has its start at around 1765 in September 2012 when the bear market started and that descends via the 1500/1530 region during April/June 2014 to the 1185 level during June 2016. This line is significant because of the long period of time that is exists...
The daily MAY17 chart shows that price of the May contract has been gradually moving up within the parallel lines of an ascending price channel that started during July/August 2016 and which took price up with the relevant supports and resistances. This chart clearly shows that price is moving in a short term uptrend with a long term downtrend. In other words:...
The weekly continuation chart especially shows that there is not such awfully much to show. There is a gap between, roughly, the 450 and the 465 level and the rules of TA teach us that gaps always are filled. Regretfully, however, same TA rules do not teach us when that gap has to be filled so that doesn’t particularly help us a lot here and now. Price has...
The daily MAY17 chart does not tell us anything material other than that there is an ascending supportive trend line that starts at around 201 during October 2016 and supports price during January 2017 at the 313/315 level. Price would meet support again at around the 322/324 level during the coming week.
The weekly continuation char shows an ascending price channel of which the lower boundary started at around 25.00/26.00 during August/September 2015 and offered support to price during July/August 2016 at around the 30.00 level as well as during the past 2 weeks at around the 32.50 level. Price has been bouncing up from this supportive trend line which we expected...
The daily MAY17 chart does not tell us an awful lot other than that price has been trading with a descending channel. If and when price breaks the upper boundary of the channel it will have plenty of room to the upside to develop a rally but the first 2 or 3 sessions will probably to the downside during the coming week.
The daily MAY17 chart shows that price has been under control of a long term descending resistance trend line that started during the 2nd half of July 2016 which was broken by price to the upside on January 5. From there on price traded an ascending channel which has its origin at the 406 level on December 23 and offered support to price on January 30 and on...
The daily MAY17 chart shows that price has been under influence of a solid horizontal resistance line at around the 375 level since October 2016. Price managed to break same resistance on February 7 from where price traded up to 385 until price made a reverse and started trading down towards same 375 level which now serves as support. During the last 2 sessions of...
The weekly continuation chart shows a very solid bottom at around 320 and an equally very solid top at around 440. Price has been trading sideways between these values since June 2014 and these values are relevant for us to keep in our minds. From August 2016 on price gradually moved higher from its solid long term supportive level, gradually making higher highs...