July Soybean Meal Head and Shoulders

Meal broke uptrend and neckline of H&S. Waiting for confirmation to break S1 at 373.9. Bullish Cypher possible pattern. Market under the 20 day MA. Minimum target height of shoulders at 365.2

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Meal almost made S1. Appears to be moving in the direction of a fall for H&S to S2 for the moment.

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Meal H&S still in affect. Broke S1 and now target is 365.2 at S2

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H&S on Meal continues. S2 now target at 351.3. RSI would take it to just above S3 if it indeed falls that much.

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Meal closing in on S2 at 351.3. This would be the height of the shoulders. RSI is nearing bottom.

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Meal dropped again today. Eyeing S3 at 351.3

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