Soybean (ZS) Weekly MACD Positively Crossing

Soybean (ZS) is consolidating to start the week, hesitating for roughly 2 weeks now just below triangle resistance (on the weekly chart) and near the 50% Fib retrace of the slide from the June high to the July low. Odds are better for a retest of the 2022 high going into year end, than it is for a slide back to the July low during the same period, with the July low coinciding with the 50% Fib retrace of the May 2019 to June 2022 bull market (as can be seen on tradingview.com)…

Soybean (ZS) Retests Weekly Chart Triangle Resistance Ahead of WASDE

Soybean (ZS) is forming a daily and weekly Doji to start the week, hesitating after last week’s strong surge to triangle resistance (on the weekly chart). With ZS having reversed more than half of the sharp slide from the June high to the July low, odds are better for a retest of the 2022 high going into year end, than it is for a slide back to the July low during the same period, with the July low coinciding with the 50% Fib retrace of the May 2019 to June 2022 bull market (as can be seen on tradingview.com)…