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Mini-Sized Soybean CME

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SJC1! trade ideas

ANALYSIS OF US SOYBEANSBearish clues: LONG-TERM - In weekly time unit, declining buying volumes during the uptrend initiated in July 2020 - Price has reached an important resistance zone around 1,530 cents per bushel ($15.30/bu, with 1 bushel of soybeans equal to almost 27 kg ). - End of the uptrend and RSI < 50 - Fundamental analysis: increase in planted areas and yield in the United States of America => increase in the US production and stocks + increase in Chinese imports + increase in demand from crushers + increase in next campaign production in Argentina and Brasil => Possible reversal in US soybean prices Bullish clues: SHORT-TERM - Price rebound on the 200 exponential moving average - Double hidden bullish divergences on the Relative Strength Index ( RSI ) initiated in April 2021 - Price closes outside Bollinger Bands + RSI oversold (< 30) - Fundamental analysis: decrease in US exports and the US stock is still at a low level, even if it increases The price of US soybeans could form a Head and Shoulders chartist pattern. If the price respects this chartist pattern, it could break the neckline and a daily bullish slanted support at the same time (coincidence of these two elements) and reach the level of 1,370 cents per bushel ($13.70/bu). Feel free to share, comment and give your opinion if it is constructive ;) DISCLAIMER: This is not investment advice
CBOT:ZS1!
by ViclreTrade
Week 21: ZSN2021 Let's flip it in the swap zoneOur trade last week was successful, it takes a week to finally hit our Profit Target. Now the price is reaching the flip zone or demand zone; I would anticipate the price will have some rejection in this area. This week we will LONG ZSN2021, here is my trade: Buy now at market SL is at $14.86 TP is at $15.45 RRR = 2.45R Always move your SL when: 1. You see a higher low, and ... 2. Your position is in the profit area. Hit me in the comment below for a discussion if you have any questions.
CBOT:ZSN2021Long
by machintose
1
Soybean net non-commercial longs trending up, PT: 2000'As indicated by data from Commitments of Traders reporting, the net non-commercial long commitments are trending up and appear to have put in a new low at the trendline. This same scenario occurred in October of 2007 when soybeans were rallying toward the 15-year high, except now they're rallying towards the all-time high. The price increase that took place following the manifestation of this situation in 2007 would suggest that $20 per bushel or higher soybean prices in the foreseeable future are a very real possibility.
CBOT:ZS1!Long
by Skipper86
This is just the beginningCommodity prices are still going, several commodities have gone past all time highs, such as Palladium, Lumber, Steel... And grains are also going up very strongly, Corn hit an 8 year high after 6 years of price stability, and they're all not far from ATH. Corn imports have fallen as buyers are put off by the high prices (they are going against the trend, what if it never goes back down?). Soybean demand should continue to increase, it is in high demand for the green transition (as a meat replacement, fuel additive or replacement, lubricant, etc). And based on past years it seems farmers do not sell before summer (they plant in April-May). This is now the 12th month in a row food prices have been going up. History will show this was more than just some short term fluctuation or some economic recovery. If we look at the past 10 years we might expect that soybean volatility is set to soar, every year as farmers plant their crops volatility increases by about 50%. It fits with what you would expect after a range breakout, a trend that gets stronger and stronger ending parabolic (and bears screaming "this is ridiculous"), followed by a significant correction. Corn has been the big runner and I think I will avoid it now, but wheat is interesting, after a long period of being choppy and lagging behind other grains, it has gone vertical finally! If this keeps going I will look to go long wheat on a pullback. Resistance (ATH) is far away: The price stopped at the $15 psychological level, gathered reinforcements, and then continued up. In many ways the situation is similar to 2007, but much crazier, with Rudolf Havenstein running the central bank. We have seen this several times in the last year: After hesitating a bit around resistance, the price makes a new high giving confirmation to sidelines traders. No reason to think this time is different, and as more people notice the trend it can be expected to get stronger. We can look at previous vertical price rallies, and expect it to go at least to $18. It does not make sense to me that the rally would stop now. It would be like a big truck running at full speed instantly stopping for no reason. On the weekly chart clearly it does not have that much distance left to get to all time high, it's not far fetched at all, especially with all the other commodities that went well beyond ATH. The trick is getting in on H4 to grab a fantastic risk to reward. The main difficulty with these crazy vertical price moves is you can never enter and once you get in it reverse. But with Soybeans... It is granting perfect pullbacks and breakouts, at least it has for the past 9 months. And cherry on the cake, it could just fly past ATH, again. Who knows how far it can go? If this was the winter low volatility, what could the year peak volatility be? Up 25% in a week? Hey it's even possible it ends up in the news and retail goes insane and starts a bubble with dumb money arguments "new paradigm", "market of 7 billion eaters with the green transition", "we are very early" and so on. The past centuries were full of all sorts of commodity bubbles, tulips that's the one everyone knows about, rabbits, silk, and others ones no one knows about but still have a few traces left in old books.
CBOT:ZS1!Long
by MrRenev
3
Don't Mind Me, I'm Just Confirming My Soyboy BiasThis recent breakout in soy has similarities to previous moves which have gained a lot more than this one currently has in terms of percentage gain and cents/bushel gain. These differences are noted on the top price chart. Indicator Similarities: Volume increasing after making a new high Stochastic shooting up from below 50 without pause into overbought territory Directional Movement Index achieving a large spread between +DM and -DM The bottom indicator is a custom pine script indicator that shows the ADX (white), ADXR (blue), and the spread of the +DM and -DM in histogram format. The price chart colorization is based on this spread being above (green), inside (yellow), or below (red) the gray box which is a zone that makes sense from a historical-performance standpoint. One concern I have is that the ADXR level is low and ideally it would be above 20 which is the dotted line. The good news is that it is quickly rising and the first breakout from last August which is the most important one started with a similar setup.
CBOT:ZS1!Long
by Skipper86
Week 18: ZSK2021 Consolidation .. wait for a break The big drop last week was not sustainable; it was a big seller momentum but the price did not manage to breakthrough $15.20 level; it failed twice (double bottom). Therefore, currently the price is in range $15.20 to $16.00. On the side note, in H4 (as I write this), the current 3 candles are pushing higher with a small gap in between; it shows the Buyers are back in the game and pushing hard. The question is whether this push will break $16.00 to create a Higher High, we shall see.
CBOT:ZSK2021
by machintose
Week 17: ZSK2021 No point of return sighted (yet)Last week right after the Asian market open, the weekend gap was filled, our $1440 Decision Point level was breached and it went up to the moon. There were no sign of weaknesses yet, bullish momentum was strong on each upward push. Today the market was opened with a gap up again and as I am writing this, there is no sign of reversal yet; therefore we stay put and see the price action in the next few candles. My new pivot line is at $1536. Let me know if you have other views or comments.
CBOT:ZSK2021
by machintose
3