May Soybean Meal Elliot Wave Head and Shoulders. Meal looking to break 20 day MA. Two outcomes possible, Wave rise to R2 - R3, or H&S. In theory wave 5 is shorter than wave 3, so both may occur with a final H&S.
Note
Meal showing signs of a last shoulder and drop. Still under the 20 day MA. Target is breaking pivot at 372.1 and moving to S1 at 347.5Note
Meal has gone through pivot, neckline at 368 next.
Disclaimer
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.
Disclaimer
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.