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Soybean Meal Futures

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ZM1! trade ideas

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: 404.5 Support: 399.3 Preferred case: Looking at the H4 chart, the current overall bias for ZM1! is bullish . To add confluence to this bias, the price is currently above the Ichimoku cloud which indicates a bullish market. Overnight, price has continued bullish moving above the pivot level at 404.5 where the 0% Fibonacci line and 23.6% Fibonacci line are located. Expecting this bullish momentum to continue and for price to head towards the resistance line at 418.0 where the 50% and 23.6% Fibonacci lines are located. Alternative scenario: Price may head back down towards the Pivot level at 404.5 where the 0% Fibonacci line and 23.6% Fibonacci line are located. Fundamentals: There are no major news.
CBOT:ZM1!Long
by Genesiv
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!
by Tickmill
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!
by Tickmill
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!
by Tickmill
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!
by Tickmill
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
Prime time for soybean meal?Similar to our previous idea , we think grains are primed for a move. With soybean meal futures jumping over 10% from last week, some technical set-ups have come into play. Firstly, the September soybean meal contract shows a 7-month head-and-shoulder pattern which failed. A broken right shoulder suggests bullish strength. Secondly, the December soybean meal contract is showing a bull flag that is breaking out, which is also a bullish signal. Combined, we believe soybean meal futures are primed for an upward move with both technical set-ups proving bullish. Entry at 435, stops at 420. Targets at 468 & 490.
CBOT:ZMZ2022Long
by inspirante
Sell Soymeal at Market - 1st TP 397.3 Stop 431.0Sell Soymeal at Market - 1st TP 397.3 Stop 431.0 **Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not indicative of future results** hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. one of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. in addition, hypothetical trading does no involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. there are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
CBOT:ZM1!Short
by Cannon-Trading
Sell Soymeal market, stop at 456.9, 1st TP at 404.8Sell Soymeal market, stop at 456.9, 1st TP at 404.8 **Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not indicative of future results** hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. one of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. in addition, hypothetical trading does no involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. there are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
CBOT:ZM1!Short
by Cannon-Trading
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