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US Soybeans Futures - Jan 17 (ZSF7)

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1,031.62 +2.22    +0.22%
02/12 - Closed. Currency in USD ( Disclaimer )
Type: Commodity
Group: Agriculture
Unit: 1 Bushel

  • Prev. Close: 1,031.62
  • Open: 1,033.62
  • Day's Range: 1,026.62 - 1,037.50
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US Soybeans 1,031.62 +2.22 +0.22%

US Soybeans Technical Analysis

 
A brief summary for US Soybeans: either strong Buy, Buy, Strong Sell, Sell or Neutral signals. It also offers a detailed technical analysis based on the buy/sell signals of moving averages (simple and exponential for a wide range of periods) and Buy, Sell, Overbought, Oversold or Neutral signals of common chart indicators (including RSI, MACD and CCI). In addition, the page contains pivot point levels for Standard, Fibonacci and Camarilla, among others. All CFDs technical studies are available in different time frames.
Summary:Neutral
Moving Averages:NeutralBuy (6)Sell (6)
Technical Indicators:BUYBuy (5)Sell (1)

Pivot PointsDec 02, 2016 05:59PM GMT

Name S3 S2 S1 Pivot Points R1 R2 R3
Classic 1027.60 1029.11 1030.86 1032.37 1034.12 1035.63 1037.38
Fibonacci 1029.11 1030.36 1031.12 1032.37 1033.62 1034.38 1035.63
Camarilla 1031.72 1032.02 1032.32 1032.37 1032.92 1033.22 1033.52
Woodie's 1027.72 1029.17 1030.98 1032.43 1034.24 1035.69 1037.50
DeMark's - - 1031.62 1032.75 1034.88 - -

Technical IndicatorsDec 02, 2016 05:59PM GMT

Name Value Action
RSI(14) 49.369 Neutral
STOCH(9,6) 48.425 Neutral
STOCHRSI(14) 62.589 Buy
MACD(12,26) -0.910 Sell
ADX(14) 38.274 Buy
Williams %R -54.044 Neutral
CCI(14) 65.9577 Buy
ATR(14) 3.3864 Less Volatility
Highs/Lows(14) 0.0000 Neutral
Ultimate Oscillator 49.817 Neutral
ROC 0.243 Buy
Bull/Bear Power(13) 1.4400 Buy

Buy: 5

Sell: 1

Neutral: 5


Summary:BUY

Moving AveragesDec 02, 2016 05:59PM GMT

Period Simple Exponential
MA5 1032.15
Sell
1031.63
Sell
MA10 1031.17
Buy
1031.21
Buy
MA20 1030.00
Buy
1031.37
Buy
MA50 1034.82
Sell
1034.83
Sell
MA100 1041.87
Sell
1033.10
Sell
MA200 1023.27
Buy
1026.53
Buy

Buy: 6

Sell: 6


Summary:Neutral

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Latest US Soybeans Comments

Francisco D Anconia
HankRearden 7 hours ago
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Measured short entry for today is 1035(.25, .50, .75), I generally incorporate a 1 point cushion on either side. SL 5 points above this. This is based on the Square of Nine tool by W.D. Gann...Soybeans move on a 30 degrees kick back to they're trending extreme in the greater % of time. It also depends on what price range they're working in...prices much higher create wider and quicker fluctuations which call for greater degrees. What I mean by this is we have been in the immediate trending down the last few days. Thursdays low of 1022.25 you would use as your anchor point for measuring in the Square of Nine calculator, 30 degrees up from 1022.25 you arrive at 1040. From there you create a zone around that number as you can only be so precise so you'd say the shorting level = 1039-1041...on here I said 1040-42 due to additional things I saw. That tool alone though gave the 1040. Through extensive backtesting the tool has shown that 5 full points past the primary measurement the
Francisco D Anconia
HankRearden 7 hours ago
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the trade is dead and no longer "correct", it will move to the next zone. The tool has shown that it has greatest accuracy within a 3 pt range. Meaning from the exact measured entry, the highest % of the times, Soybeans will not pass the entry level by even 3 full points.......There's also a bumper on this I've found where the Soybeans cannot actually make to the exact measured entry, which is why I've given it s a 1 pt cushion on either side.... With the high on Friday being 1037.75 and the measured short entry given for today at 1035, one would be able to play an even tighter stop loss just above Friday's HOD......this is no suggestion, just sharing my thoughts and possible actions. My main trade I'm looking to making this week on Soybeans will be on Tuesday if we arrive at 1020....from there I will start my buying.
Francisco D Anconia
HankRearden 7 hours ago
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Ok so to take another step forward I pull up the 4hr to review old bottom pivots on this move down so far and will also look at closing/opening price on pivoting bars and markets tend to make their new bottom/tops not only just on old bottoms and tops but on old opening/closing prices of important price bars. S&P500 and CL is actually extremely accurate on this method alone, pivoting on old opening/closing price levels of importance...anyways, Soybeans 4hr chart shows a really strong pivot bottom bar at 1036.75. Then can pull up hourly and see a consolidation area from 1034-1040 with no hour closing below 1036.50...more hits on 1036 area with a pivot bottom in front of the 1035 entry at 1034.50...so I'm seeing strength here. Anyways...I don't know why I'm posting all this, I guess there seems to be some level of interest so I just figured I would post a little on some of the steps I take before taking a trade...
Francisco D Anconia
HankRearden 7 hours ago
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** TYPO ** "Thursdays low of 1022.25 you would use as your anchor point for measuring in the Square of Nine calculator, 30 degrees up from 1022.25 you arrive at 1040" Apologies...I meant to say WEDNESDAY'S low of 1031.25,....30 degrees above this = 1040. Had the day's mixed up.
Francisco D Anconia
HankRearden Dec 03, 2016 2:47PM GMT
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Brent...the closing price isn't weak at all in my mind's view. You'll see in my post lower down the page that my key support zone is roughly 1018-1024, and with closes above them Soybeans are still incredibly strong. You'll see that the total VOLUME OF SALES for Friday was only 77k. So this is what I have brought up before, the issue of decreased Volume of Sales, it's an indication that the current direction is losing power(when we're speaking of moving down). Right now a good day for Soybeans is 140k ++, below 130k the move starts to fade off...the swings down have been 130k down to 70k, with 70k coming in before pop back up. So the problem now for highers prices is that it's going to go back up until the buyers come back in. The dramatic drop in volume as we approach key supports just further supports the theory in higher prices but in time, maybe not for another week or two. So, this is not "SELL OFF" more of a healthy pullback due to lack of buyers, not increased sellers.
Francisco D Anconia
HankRearden Dec 03, 2016 2:52PM GMT
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I just sat down at my desk, about to prep this week...I decided it'd be much more helpful/easier to supply my personal charts with my words. Explaining this stuff without pictures can be like reviewing a very detailed math equation without proper reference points, just doesn't really hit home or make sense....so I'm gonna get all my Soybean stuff done this morning for the week/month ahead and I'll upload all my charts, just look in my profile to get to them if you'd like. But continued closes above 1018+, Beans quite strong.
Francisco D Anconia
HankRearden Dec 03, 2016 5:53PM GMT
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Ok so this is my outlook. Buying zone is 1015-1020. Below this we will slip to old closes at 1011 but would imagine at that point we'd head lower to the next Value Zone which is at 990-1000. Possible we close the gap at 993.75 at that point. It's my belief is that at this time it's the least likely of the two Value Zones to become our next bottoming level, 990-1000 that is.. We did arrive at an extremely powerful zone when reaching 1060-1070 so a pullback is not in anyway unexpected. Cyclically December is a possible top month for Beans before making a pullback into 2017 which we then run back up from. With that said, we'd need to break above 1065 as that was November's high and not December's so it would strengthen the case Beans have some more left int them. I'll be watching and waiting Volume this week. Continued closes above 1020 or even 1026 are a sign a strength. Closing below 1018 would be weak to me. Slippage below these zones are of not much concern as long as the...
Francisco D Anconia
HankRearden Dec 03, 2016 6:08PM GMT
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closing price remains above 1018-1020. Charts can be found in my profile for reference. As I mentioned before volume was 77k on Friday which is fitting into the pattern of bottoming formation coming in. Ideally I'd like to see a somewhat flat week with price action no lower than 1015 and closes now lower than 1020'sh. I'd also like to see 70-90k volume days at these levels...for me this would be enough to start buying into the 1020 Zone and holding. WASDE is on Friday and is 1/2 year cycle from our June TOP. So...if we happen to up into WASDE I'd probably be looking to sell that. 1055.75 - 1056.00 would be the selling level for myself so entry positions would be at 1054.50 and SL's tight only a few points above 1056, maybe 1059. Low end short entry would be 1046.75 but this would be a scenario I'd have to take measurements day of report........the 4/6 pattern is not in play ATM. Anways, this is my week's outline, simplified. Take care.
Terp Terp
Terp Dec 03, 2016 9:01PM GMT
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Thats some impressive analysis
Francisco D Anconia
HankRearden 7 hours ago
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Thanks, ungodly amount of time spent on my charts and review of historical price/time movement.
Onoshobishobi Ingelosi
Onoshobishobi Ingelosi Dec 02, 2016 6:35PM GMT
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MY OPINION: If this thing closes where it is right now, we're heading to 980 in less than a week. At some point, fundamentals should take over. Well...should. Who knows. I'm gonna eat some profit to establish peace of mind here and play both sides until an obvious direction is established. Maybe not the most profitable move, but what else is there to do?
mid west
mid west Dec 02, 2016 6:41PM GMT
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agree
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