With all these Gartley patterns it's nice that we have a different setup on Soybeans. A bullish Bat may be in store for Soybeans. We are nearing a 20 day MA cross over. Again like Corn, Soybean Meal, Soybeans may use 20 day MA as support for another run up. We are watching breach of downtrend line for RSI.
Note
Soybeans breached the 20 day MA. S1 target at 1028'6Note
Soybeans has stayed below the 20 day MA. Next downside target is still S1Note
Beans maybe building out a bear flag. Needs to break S1 at 1028'6 for any downside move. Right now S1 becomes support.Note
Beans crossed over the 20 day MA and pivot. Looks like a run to S1 1081'6 rather than a deeper slide. Will know more 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.