TradingView
0
All posts from TradingView
TradingView in TradingView,

Soybeans to Head Lower

Soybeans to Head Lower

SOYBEAN FUTURES - ECBT CBOT:ZSX2016

With the convergence of the Stoch RSI , downward trend in price, as well as the MACD , I would say the bears are alive.

RSI is also moving down. A long way from indicating an oversold market, but it may be headed there.

Open Interest has been rising as the price has fallen the last few days, which indicates another sign of the bears.

I'm gonna go with a short on these Jan beans, at least for the near term.