Bearish soybeans with the break up the upward ML and high on the channel.
The chart for Soybeans looking very attractive right now. On the daily chart, we have an engulfing candle at a major flip/resistance zone. This has garnered the attention of any technical traders. Moving down on the 4 hour, we get a clearer picture. We have been in a nice uptrend with multiple swings, higher lows and higher highs. This trend began to exhaust at...
The SOYBNUSD, symbol ZS, is in a Bear Market Rally within a long-term Bear Market with price trading above the 50 week ema, but below the 200 and 800 week emas. The long term emas are mostly flat, signaling accumulation / distribution. The price action appears to be finishing up the c-wave of an x-wave before a final y-wave down. The long upwards candle wicks,...
The figures for soybeans contain a good risk / reward ratio (1: 3). Stoploss: 8.931 Goal: 10.24 There may be some relaxation in the first place, since I don't want to forget, I have already shared my analysis.
A nice rising wedge pattern is forming on this chart. It would be wise to enter a short on the break of the counter trendline on the weekly chart. The market is largely in a bearish move that can be maintained if enough sellers creep in.
OANDA:SOYBNUSD chart on daily time frame interestingly forms an inverse head and shoulder pattern and makes quick breakout upwards. We are yet to test the support and see if it can bounce of that levels. Currently its at a short term resistance zone where a lot of price action has taken place in the past. The story so far, we saw a dramatic and sharp fall in...
Looking at the long term chart, soybeans are poised to make an aggressive move to the upside. However, this can happen in two flavours: a failure at the 9.224ish level followed by a correction and an extension of the building divergences, or, a break past that level followed by more upside. If the price hits the aforementioned price target and stalls out or...
DAILY CHART EXPLANATION: On this timeframe, we observe that at this moment the Resistance Zone is trying to be broken. if price can consolidate above, then we expect a corrective movement towards the Support Zone (broken resistance zone) before continuing the Bullish Movement. The first target of the upside move is the Resistance Zone at 10.30 zone. WEEKLY...
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4H CHART EXPLANATION: At the beggining of May, price started a strong bullish movement towards the Weekly Descending Trendline. Once it faced the zone, it could not consolidate above and the trend became weaker. Then started moving sideways and it has recently formed a Triangle Patter, which was broke downwards yesterday. We expect a downside move towards the...
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4H CHART EXPLANATION: In 4H timeframe, we observe that price has broke the Descending Trendline with a strong movement. It has potential to reach the Resistance Zone. However, we need to be careful because the downtrend still active, so it can be just a correction to continue the down movement. Updates comming soon! MULTI TIMEFRAME VISION: - Weekly: - Daily: