Soybeans is showing signs of accumulation with volume contraction during price declines and expansion during rallies on the daily range.
The Head And Shoulders pattern on the daily timeframe features a more 'complex' inverted type, featuring a left shoulder, double head and right shoulder. However, volume patterns remain consistent with the typical and ideal inverted head and shoulders formation, with volume diminishing in trade on the left shoulder, with slight expansion on the rally to create the valley, and further diminishing volume on the creation of the head, and the proceding right shoulder with volume and price showing signs of activity during the early stages of the rally indicating, genuine activity.
Eyes are now set on the break of the neckline, for price to contiune higher for a new profound bull market.
The Head And Shoulders pattern on the daily timeframe features a more 'complex' inverted type, featuring a left shoulder, double head and right shoulder. However, volume patterns remain consistent with the typical and ideal inverted head and shoulders formation, with volume diminishing in trade on the left shoulder, with slight expansion on the rally to create the valley, and further diminishing volume on the creation of the head, and the proceding right shoulder with volume and price showing signs of activity during the early stages of the rally indicating, genuine activity.
Eyes are now set on the break of the neckline, for price to contiune higher for a new profound bull market.
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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.