Technical factors:
Fundamental Factors:
- Double bottom formed with a higher Low on the second retracement, which was also accompanied by volume accumulation.
- Long-term upward trend (view weekly chart).
- Up-trending channel in the medium-term.
- Well-defined risk.
- Low-volume node (LVN) that provides for an early/aggressive breakout entry (likely today).
Fundamental Factors:
- WASDE yield estimates for beans this season are running high by more than two bushels per acre.
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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.