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Mini-Sized Soybean CMEMini-Sized Soybean CMEMini-Sized Soybean CME

Mini-Sized Soybean CME

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SJC1! trade ideas

Soybeans CBoT N16Soybeans: Nothing much changed from our picture of one week ago: price is still in an impulsive move up and has made a 3-day corrective move down after the very strong soar of early last week. The pattern of the corrective move down during the past 3 trading suggests that there is more room to the upside. The soar of May 10 took the price from, roughly, the 1030 level to, roughly, the 1080 level. We favor a continuation of the move up from here starting Monday to, roughly, the 1020 zone with a possible overshoot.
CBOT:ZSN2016Long
by Remko
Soybeans Long PlayPrice did not make the corrective move down to 975 during last week as was preferred by us but rather traded a sideways pattern between, roughly 1010 and 1050. It doesn't change our general expectation of the development of this price but we need to adjust our preferred path a bit. We take our view to the upside from here and have a bias with 1100 as target which we would like to see reached latest by the end of May. If price breaks the 1000 level, however, we will have to go back to the drawing board again and start considering the correction down after all. For now we are in for a 5% swing up from current levels.
CBOT:ZSN2016Long
by Remko
Soybeans monthly TAIt seems what W. D. Gann said some half a century ago still holds: "Soybeans is the king." Now this king is still away from a powerful support. It so seems that a 5-wave move is to be completed by the LMLH. Stoch seems quite happy and restful in the oversold zone. We are in the sixth narrow monthly bar, and technicians would love to see a NR7 breakout. But what I believe is that we have to be vigilant against a premature breakout, since it is also highly likely here. All in all my sentiment is bearish. And will be so until we see mid 700s.
CBOT:ZS1!
by Csys