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Soybean Trade Technical Analysis - Soybean Trade Trading: 2020-12-24
Soybean Technical Analysis Summary
Above 1269.5
Buy Stop
Below 1153.9
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
Soybean Chart Analysis
Soybean Technical Analysis
The #C-SOYB technical analysis of the price chart on daily timeframe shows the #C-SOYB: D1 is rising above the 200-day moving average MA(200), which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 1269.5. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the last fractal low at 1153.9. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (885) without reaching the order (905.3), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Commodities - Soybean
Argentine soy exports are being delayed due to strikes. Will the soybean prices continue rising?
Strike by grains inspectors and oilseed workers in Argentina has delayed loading of more than 100 cargo ships. At the same time China is expected to import record high soybeans in 2020 - more than 100 million tons. China is rebuilding its huge hog herd that was decimated by African Swine Fever, needing more imports of feed protein. Higher China imports and lower Argentine export forecasts are bullish for soybean price.
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