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Soybean Meal Futures ( ZM1! ), H4 Potential for Bearish MomentumTitle: Soybean Meal Futures ( ZM1! ), H4 Potential for Bearish Momentum Type: Bearish Momentum Resistance: 404.7 Pivot: 392.0 Support: 399.3 Preferred case: Looking at the H4 chart, the current overall bias for ZM1! is bearish. To add confluence to this bias, the price is currently under the Ichimoku cloud which indicates a bearish market. Overnight, price closed under the 1st resistance level at 404.7 where the 0% Fibonacci line and 23.6% Fibonacci line are located and tapped onto the 1st support at 399.3 before having a slight bounce. Expecting this bearish momentum to continue and for price to head towards the Pivot line at 392.0 where the 0% Fibonacci line and previous low is. Alternative scenario: Price may head back up above the 1st resistance at 404.7 and head towards the 2nd resistance at 418.0 where the 50% and 23.6% Fibonacci lines are located. Fundamentals: There are no major news.
CBOT:ZM1!Short
by Genesiv
Soybean Meal Futures ( ZM1! ), H4 Potential for Bearish MomentumTitle: Soybean Meal Futures ( ZM1! ), H4 Potential for Bearish Momentum Type: Bearish Momentum Resistance:418.0 Pivot: 392.0 Support: 404.7 Preferred case: Looking at the H4 chart, the current overall bias for ZM1! is bearish. To add confluence to this bias, the price is currently under the Ichimoku cloud which indicates a bearish market. Price has reflected off the 1st resistance level at 418.0 where the 50% Fibonacci line and 23.6% Fibonacci line are located and looks to be retracing back down towards the 1st support at 404.7 where the 0% Fibonacci line and 23.6% Fibonacci line and previous swing low are located. Alternative scenario: Price may continue bullish and close above the 1st resistance level at 418.0 where the 50% Fibonacci line and 23.6% Fibonacci line are located Fundamentals: There are no major news.
CBOT:ZM1!Short
by Genesiv
Soybean Meal Futures ( ZM1! ), H4 Potential for Bullish MomentumTitle: Soybean Meal Futures ( ZM1! ), H4 Potential for Bullish Momentum Type: Bullish Momentum Resistance:418.0 Pivot: 392.0 Support: 404.7 Preferred case: The current overall bias for ZM1! is bearish, according to the H4 chart. To add to this bias, the price is currently below the Ichimoku cloud, indicating a bearish market. However, price has been rising bullishly upwards since the 7th of October, with price touching the first resistance line at 418.0, where the 50% and 23.6% Fibonacci lines lie. If the bullish trend continues, price will break above the first resistance line and continue to rise. Alternative scenario: Price may retrace back down towards the 1st support at 404.7 where the previous low and 23.6% Fibonacci line is. Fundamentals: There are no major news.
CBOT:ZM1!Long
by Genesiv
Soybean Meal Futures ( ZM1! ), H4 Potential for Bullish MomentumTitle: Soybean Meal Futures ( ZM1! ), H4 Potential for Bullish Momentum Type: Bullish Momentum Resistance:418.0 Pivot: 392.0 Support: 404.7 Preferred case: Looking at the H4 chart, the current overall bias for ZM1! is bearish. To add confluence to this bias, the price is currently under the Ichimoku cloud which indicates a bearish market. However overnight, price has closed back up above the 1st support at 404.7 where the 0% Fibonacci line and 23.6% Fibonacci line and previous swing low are located. If the bullish momentum continues, expect price to continue heading towards the 1st resistance level at 418.0 where the 50% Fibonacci line and 23.6% Fibonacci line are located. Alternative scenario: Price may close below the 1st support at 404.7 and head downwards to the pivot at 392.0 Fundamentals: There are no major news.
CBOT:ZM1!Long
by Genesiv
Soybeans Under Pressure Soybeans Technicals: Soybeans broke lower yesterday, trading right into our 3-star support pocket, 1673-1679 ½. The Bulls have been unable to defend that pocket in the overnight/early morning trade which could take us to our next and more significant support pocket, 1644 ¾-1650. This pocket represents previously important price points and the 100-day moving average. Previous support will now act as our pivot pocket that the Bulls want to get back out above to neutralize the technical damage, that is the pocket mentioned earlier, 1673-1679 ½. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1700 ½-1702**, 1720-1728*** Pivot: 1673-1679 ½ Support: 1644 ¾-1650****, 1613 ¾** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
2
Soybeans Struggle to Hold Support Soybeans Technicals: July soybean futures broke and close below trendline support yesterday which opened the door for additional weakness in the overnight session. Futures have recovered some and trading near unchanged. Previous support is now resistance, we see that first hurdle coming in near 1710. On the support side of things, the 50-day moving average and low end of the range come in near 1675. If that support gives way, we could see the selling accelerate. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1720-1728***, 1757 ½-1760**, 1775 ½-1784** Pivot: 1710 Support: 1690**, 1673-1679 ½*** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
Daily Soybean Market Update (6.14.22)Soybeans Fundamentals: Yesterday's weekly crop progress report showed the U.S. soybean crop is 88% planted, 70% emerged, and a Good/Excellent rating of 70%. There were no major surprises here. Yesterday's weekly export inspections report came in at 605,129 metric tons, well above the 365,455 last week and 141,320 we saw in the same week last year. Technicals: Soybean futures broke through support from 1720-1728, this will now act as resistance. A close back above here opens the door for a potential run back at the contract highs and above. There is some trendline support from May 17th-June 7th that is holding well over the past 24 hours. A break and close below here could spark a drop back below $17.00. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1757 ½-1760**, 1775 ½-1784** Pivot: 1720-1728 Support: 1690**, 1673-1679 ½*** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
Dining out soon?China, one of the largest consumer of soybean oil, has tapered its demand for the edible oil due to COVID-related control measures over the past few months. With new cases falling and lockdown for Shanghai expected to be lifted soon, we see positive demand drivers on the horizon for soybean oil. Restaurants are among the largest consumers of the oil. As consumers resume their normal consumption patterns and dining out becomes the norm again, it’s easy to see the impact on demand. Looking at the charts, we see a falling wedge pattern since April (where prices make lower highs and lower lows) which generally indicates an upside breakout could be near. On a longer timeframe, we are close to the 6-month uptrend line, where prices have bounced off in the past. Additionally the $78 resistance level provides us with further confidence that prices are likely to remain supported at the current levels before making a jump higher. As demand from the world’s largest consumer of soybean oil revives and technical levels remain intact, we expect more upside from here! Staggered entry at 79.25 and 78.25 with stops below 77.25 and targets at 84 and 87.60. Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
CBOT:ZL1!Long
by inspirante
1
Daily Grain Futures Volatility Forecast 26 May 22 ZS ZC ZW WHEAT ZW 26 May 2022 The current volatility is expected with close to 90% chance to be below 4.17% In this case, our channel for today is going to be TOP 1180 BOT 1085 -------------------------------------------------------------------------------------------------------------------- CORN ZC 26 May 2022 The current volatility is expected with close to 90% chance to be below 2.41% In this case, our channel for today is going to be TOP 781 BOT 744 -------------------------------------------------------------------------------------------------------------------- SOYBEAN ZS 26 May 2022 The current volatility is expected with close to 90% chance to be below 2% In this case, our channel for today is going to be TOP 1709 BOT 1641 --------------------------------------------------------------------------------------------------------------------
CBOT:ZS1!
by exlux
Volatility 19 May 22 Grains Commodities Futures CORN ZC Futures 19 May 2022 Based on the HV measures from the last 5612 candles our expected volatility for today is around 1.59% However, in order to increase our accuracy I am going to use a 1.25x multiplier => 1.99% This is translated into a movement from the current opening point of 15.48 With this information our top and bottom , with close to 85% probability for today are going to be TOP 797.5 BOT 766.5 WHEAT ZW Futures 19 May 2022 Based on the HV measures from the last 5600 candles our expected volatility for today is around 2.84% However, in order to increase our accuracy I am going to use a 1.25x multiplier => 3.55% This is translated into a movement from the current opening point of 43.13 With this information our top and bottom , with close to 84% probability for today are going to be TOP 1265.34 BOT 1178.65 SOYBEAN ZS Futures 19 May 2022 Based on the HV measures from the last 5600 candles our expected volatility for today is around 1.19% However, in order to increase our accuracy I am going to use a 1.25x multiplier => 1.49% This is translated into a movement from the current opening point of 24.82 With this information our top and bottom , with close to 84% probability for today are going to be TOP 1688.5 BOT 1639 OAT ZO Futures 19 May 2022 Based on the HV measures from the last 5600 candles our expected volatility for today is around 2.43% However, in order to increase our accuracy I am going to use a 1.25x multiplier => 3.04% This is translated into a movement from the current opening point of 19.56 With this information our top and bottom , with close to 84% probability for today are going to be TOP 664.35 BOT 625.15 COCOA CC Futures 19 May 2022 Based on the HV measures from the last 5615 candles our expected volatility for today is around 1.46% However, in order to increase our accuracy I am going to use a 1.25x multiplier => 1.82% This is translated into a movement from the current opening point of 44.98 With this information our top and bottom , with close to 85% probability for today are going to be TOP 2550.62 BOT 2459.4 COTTON CT Futures 19 May 2022 Based on the HV measures from the last 5615 candles our expected volatility for today is around 2.24% However, in order to increase our accuracy I am going to use a 1.25x multiplier => 2.8% This is translated into a movement from the current opening point of 4 With this information our top and bottom , with close to 85% probability for today are going to be TOP 148.5 BOT 140.5 COFFEE KC Futures 19 May 2022 Based on the HV measures from the last 5615 candles our expected volatility for today is around 2.94% However, in order to increase our accuracy I am going to use a 1.25x multiplier => 3.67% This is translated into a movement from the current opening point of 7.92 With this information our top and bottom , with close to 83% probability for today are going to be TOP 226 BOT 210
ICEUS:KC1!
by exlux
Soybean Oil Futures (ZL1!), H1 Potential for Bearish ContinuatioType : Bearish Continuation Resistance: 85'46 Pivot: 83'76 Support : 82'04 Preferred case: With price expected to reverse off the resistance of the ichimoku cloud, we see a potential bearish continuation from our pivot level of 83'76 which is in line with 50% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 82'04 which is in line with the horizontal pullback support and 38.2% Fibonacci retracement. Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance level of 85'46 in line with 50% Fibonacci retracement and horizontal pullback resistance. Fundamentals: No major news.
CBOT:ZL1!Short
by Genesiv
Feb 23, 22 Soybean Sell UpdateSoybeans have been on a tear for over a month now. Apparently weather is to blame around the world. Too much rain in some countries and too little rain in others. China has just released tons of Soybean from their reserve supplies to help fill the growing gap. Word is it's going to be Mid March at least before there could be any relief. By then, I believe my Alligator Indicator will almost be up there in my Sell Area of 1520. Note the second wise man circle a few weeks back?? Usually, BUT NOT ALWAYS, indicates a possible sign of price reversal?? This is one of those times where price did not reverse and price just kept on going up. This is why we must trade with our 5 rules, always using good money management. I will keep you updated - I'm hoping once price starts to fall, it will fall heavily so we can make some good money :-) HEIKO
CBOT:ZS1!Short
by HEIKOTradingSystem
6