January Soybeans - Daily
January Soybeans - Daily: The January contract shows a different picture than the continuous. Jan beans did break above the trend line and 24% retracement, but fell short of the 38% target. The cloud resistance stopped beans at 12.89. The move below the trend line is concerning. There is a Harmonic Pattern potential for a reversal at 11.93-11.81. We need a couple of daily closes above the trend line and the red kijun line currently at 12.30 to keep this from continuing bearish. A break out above the trend line, the cloud, and 24% retracement could excite the bulls for strong gains. **Again this is volatile, Use options to help make decisions if needed…
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.
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.