Tag Archives: soybnusd

Sell Soybean Soybean broke the smaller downtrend (green line). But now we run up to the bigger downtrend which seems to hold strong after these three tests in the last time. Because we hit the downtrendline (resistance) three times allready and doesn’t break I think we are ready to go down. The first target will be around the smaller downtrend line. Because support becomes resistance and vice versa. TP: 8.295 SL: 9.281

Sell Soybeans We hit our downtrendline on the upside, which means we go down again to complete the wedge. First target will be the old support. Since the support was broken, retested and failed to continu this is now a stronger support than before. TP: 8.038 SL: 9.024

Buy Soybeans I just zoomed out to the daily chart for this one. I’ve been expecting downward movement for SOYBNUSD since november. You can see the red dotted lines and blue arrows which I’ve drawn in November allready. Just updated this chart and expecting a pullback to the fibonacci 0.382 zone (at least). If we break this orange support quickly there may be a big downward movement coming! TP: 8.46 SL: 7.90