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Soybean

Soybean (ZS) Testing Downchannel/Descending Wedge ResistanceAfter a two week rally, soybean (ZS) is now bumping into downchannel/descending wedge resistance on the weekly chart, which coincides roughly with the 1000 psychologically key resistance level. Weekly RSI and Stochastics are in rally mode, while the MACD which a few weeks back appeared ready for a negative crossover has strengthened again and is sloping up now. For my multiple timeframe analysis on ZS, feel free to visit: tradablepatterns.com Website: tradablepatterns.com FB: facebook.com Stocktwits: stocktwits.com Twitter: twitter.com Linkedin: www.linkedin.com YouTube: www.youtube.com Google+: google.com Email: info@tradablepatterns.com
CBOT:ZS1!
by TradablePatterns
ZS upward "C" wave to come (???)Soybean has been a tough market for those traders seeking volatility as it has been on a “wait-and-see” mode for a couple of month now. I do not expect any major movement on the short/mid run; however, I do see a possibility to “widen” the current trading range. The wave counting above suggests that a B wave would be completed (or nearly completed) and a possible upward C wave would be on the radar screen. For those (unlike me) seeking short-term opportunities it may be a good commodity to keep track on. I am still holding my long position with stops on a range around 920, although I confess the weekly chart does not look that bullish. In fact, the MACD divergence is killing my sleep lately. See my comments on ZC at:
CBOT:ZSH2015Long
by againstthegrain
2
Soybean Meal /ZM possiblity of entering textbook resistanceThis could be possibly the easiest short out there on the futures markets. This resistance area at 340 was tested as support numerous times and held until September. It has yet to be tested as resistance. Usually the first touch of support-turned-resistance holds very strongly as multiple traders will be looking at the same area to enter short. Target is a significant move lower from this area, that could change of course depending on the price action following an entry of the trade. Stop is simply above the resistance area. The risk/reward for this trade is phenomenal due to how clean the resistance is.
CBOT:ZMZ2014Short
by Talon
Soybeans (ZS) Bottoming on Weekly ChartZS has found major support at around the 900 level, as seen by the weekly RSI, Stochastics and MACD all turning up from oversold levels. The 900 round figure coincides with major bottoms in 2009 and 2010, along with near bottoming activity in late 2008. ZS appears to want to target roughly 1000 in the near-term where downchannel resistance can be expected to hold initially. Feel free to visit stks.co for today's technical analysis on $ZS_F, $ZW_F, $CT_F, $ZC_F, $NG_F, $SI_F, $EURUSD, $GBPUSD, $USDX, $BUXL, $KC_F, $NFLX. Website: tradablepatterns.com FB: facebook.com Stocktwits: stocktwits.com Twitter: twitter.com Linkedin: www.linkedin.com YouTube: www.youtube.com Google+: google.com Email: info@tradablepatterns.com
CBOT:ZS1!Long
by TradablePatterns