Soybeans: Trending up, buy on dips...
Updated
I think we have a nice setup to buy the dip in Soybean futures or using SOYB. It's a rather big contract, so keep that in mind if trading futures.
There's a long term trend signal active, for many more months still, so any dip is a buy if you're patient enough.
I highlight a trend that reached its peak in the daily timeframe here, so, a retracement entry is likely to materialize in the coming days and weeks.
Keep an eye on it, don't miss out on the big gains to be had in this market.
As timwest pointed out, fundamentals for Soybeans and the long term chart are ridiculously bullish now, so, it is going to be very hard to hold on to positions for long enough to reap the benefits, and specially hard to join the trend for most people. The droughts in Brazil are affecting crops, and there's a huge demand from China, since the soybean producing regions were affected by floods recently, there's also a big need for soybeans to produce pork in South America, like the huge farms they are setting up in the South of Argentina.
As a bonus, if the US wants to hurt China, their best bet is to make the food prices go up, specially Soybeans. They had been buying commodities for cheap for a long time until now. That might be changing already, and considering the expectations I have of rising inflation and interest rates, in a post Pandemic world, this is further fuel for the fire in this rally here.
Cheers,
Ivan Labrie.
There's a long term trend signal active, for many more months still, so any dip is a buy if you're patient enough.
I highlight a trend that reached its peak in the daily timeframe here, so, a retracement entry is likely to materialize in the coming days and weeks.
Keep an eye on it, don't miss out on the big gains to be had in this market.
As timwest pointed out, fundamentals for Soybeans and the long term chart are ridiculously bullish now, so, it is going to be very hard to hold on to positions for long enough to reap the benefits, and specially hard to join the trend for most people. The droughts in Brazil are affecting crops, and there's a huge demand from China, since the soybean producing regions were affected by floods recently, there's also a big need for soybeans to produce pork in South America, like the huge farms they are setting up in the South of Argentina.
As a bonus, if the US wants to hurt China, their best bet is to make the food prices go up, specially Soybeans. They had been buying commodities for cheap for a long time until now. That might be changing already, and considering the expectations I have of rising inflation and interest rates, in a post Pandemic world, this is further fuel for the fire in this rally here.
Cheers,
Ivan Labrie.
Trade active
Starting to get long here.Note
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So far, so good!I think this trend is on track to reach near 1900 cents by August 2021...
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New highs, on track. HODLNote
This should move big next.
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Trade closed: target reached
I sold recently, a few days ago, after trying to buy once again near weekly support, it broke down and lead to a massive crash.
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