Soybeans rising off of RSI low and previous bullish Gartley. Next projection Bearish Bat. R1 should take us to RSI top, but not necessarily full RSI overbought territory. Next upside target 981 at pivot. We are also nearing 20 day moving average break.
Note
Soybeans running into trouble. Expect retest for uptrend line and possibly falling below S1 at 953'7. If supported we may be into a three drives scenario.Note
Soybeans trying to make a run for S2 at 937'1. Oversold condition won't last long however beans has no where to run to the upside with world markets as they are. USDA report next week.Note
There is a bull flag forming on March Soybeans. Pivot at 981 would be a first upside target.Note
Soybeans pushed back with shooting star doji. May see buy to pivot Monday.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.