Soybean (ZS) is pushing higher to start the week, nearing completion on the daily chart triangle. Significantly, with a green weekly Doji beginning to form, ZS appears unwilling to deepen in its 2 week plus consolidation, improving odds for ZS to gravitate before month end, back to its 2022 high (from February)…
Soybean (ZS) edged higher Friday, closing just shy of its 2022 high (from the week before). Significantly, although ZS appears poised to gravitate to the 2021 high on its continuous chart (seen on tradingview.com), the May contract seems primed for some healthy profittaking as suggested by last week’s weekly Hammer following a weekly Gravestone…
Soybean (ZS) has bounced to start the year, and is now just shy of the December high. Significantly, ZS has reclaimed the 61.8% Fib retrace of the June to November correction, with upward momentum returning following ZS’ break above triangle resistance (on the 4hr chart)…
Soybean (ZS) is consolidating to start the week after 4 straight up days, digesting Friday’s break above triangle resistance (on the daily chart). Significantly, ZS appears to be gearing up for a renewed push higher from above the descending wedge resistance (on the weekly chart), with high odds for a grind higher before Xmas to the psychologically key 1300 whole figure level…
Soybean (ZS) is consolidating for a 3rd straight day to start the week, hovering just above downtrend resistance (on the daily chart). Significantly, ZS has halted the deep correction from the May/June peak with its push last week above descending wedge resistance (on the weekly chart). Bullishly, ZS has formed a higher November high versus the October high, reclaiming the 50% Fib retrace of the May 2019 to May 2021 rally…
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Soybean (ZS) is trying to edge higher to start the week, but remains vulnerable to a deeper consolidation as it hovers for a 4th straight day near uptrend support (on the weekly chart). Significantly, although ZS’ rebound 2 weeks back brought ZS well above uptrend support (on the weeky chart), ZS is once again on the brink of giving up this key battleground…
Soybean (ZS) is trying to stabilize to start the week, bouncing off a near complete wedge/triangle’s support (on the 4hr chart) and trying to break decisively above descending wedge resistance (on the daily chart). Significantly, regardless of the high probability for a multi-day bounce, ZS will remain vulnerable to a Bear Flag extension in July while ZS sits below uptrend support (on the weekly chart)…
Soybean (ZS) is trying to stabilize for a 2nd straight day to start the week, testing downchannel resistance (on the 4hr chart) and downtrend/descending wedge resistance (on the daily chart). Significantly, ZS remains vulnerable to a Bear Flag extension by late this week after having broken below the May low and uptrend support (on the weekly chart) last week…
Register/Login to freely access technical analysis on the market described in the headline above. Today’s Top 3 Trades includes technical analysis on: Agris (Soybean | Corn) + Today’s Top Trade (GBPAUD) Join the world’s largest asset manager and 2 of the world’s 5 largest (and 5 of the 10 largest) hedge funds by AUM asRead More
