TradingView
0
All posts from TradingView
TradingView in TradingView,

CBoT soybeans worth a short from here

CBoT soybeans worth a short from here

SOYBEAN FUTURES - ECBT CBOT:ZSX2016

Soybeans:
Price is following our preferred path only reluctantly and the earlier drawn 'bear-flag-pattern' is far from perfect. Still, we keep our eyes to the downside for this price and we have even trailed our target a bit down to the 870/850 zone which is some 10% below the current value. We should allow price to trade a bit up from here to the 1020/1025 zone where it would trade into a resistance area and an overshoot to the 1030/1035 will be tolerated as well. If price would break latter level to the upside we would have to return to our drawing boards and reconsider our bias.