January Soybeans â€“ Long from $9.93 Â½ - last price @Â $9.98 - Soybean continue to rally after Monday's kate session price surge that confirmed the bullish swng pattern and trigger the buy signal. The last session rally also confirmed the â€œdouble crossâ€ pattern.
Hold the long position and move the stop loss to $9.71.
January Soybeans â€“ A bullish TR pattern is forming under the ascending median line and above the 20-day SMA. If confirmed, the TR pattern would portend a new bullish leg and a test of the $10.68 high posted on August 13. â€“ Buy Soybeans at $9.93 Â½ stop with a stop loss at $9.60.
10/29/09 - 8:40 - am MST - The recent correction stopped short of reaching the 60% buy window, but it did "double cross" the 20- day SMA. This is a bullish swing trading strategy buy pattern and suggests the Soy meal is setting up for a significant upward move.
December Soybean meal â€“Long from $301.80 â€“ The long position was closed at 289.00 stronger dollar pressured the market and pushed it below the 20-day MA support. However, the market appears to be forming a possible continuation pattern and could be setting up for another run higher. If Soy meal rebounds and trades above Tuesdayâ€™s high (297.00) it would confirm the swing pattern failure to the downside. This type of price action can be followed by a significant move in the opposite direction. â€“ Buy the Soy meal at 297.50 stop with a stop loss under the swing low.
December Wheat â€“ Long from $5.29 Â¾ - last price @ $5.51 3/4 -Wheat formed a bullish reaction swing pattern on the descending median line. After a two-day pullback to test the 20-day MA, wheat surged higher and triggered the buy signal. Thursdayâ€™s higher close is the second consecutive closes above the (C) pivot and portends a price move to the ascending (blue) median (centerline) line. â€“ Hold the long position with the stop loss at $5.12.
November Soybeans â€“ Long from $10.13 Â½ - last price @ $10.05 Â¾ - Heavy rain continues to fall throughout the Midwest and on the Mississippi River Delta, making the harvest difficult for corn, soybeans. Wednesdayâ€™s sharp rally stopped at the descending reaction line. Thursdayâ€™s â€œinside dayâ€ will help the market build energy and retest the reaction line and possibly break through on Friday. -Â Hold the long position with the stop loss at $9.75.
December Soybean meal â€“Long from $301.80 â€“ last price @ 300.80 â€“ Heavy rain continues to fall throughout the Midwest and on the Mississippi River Delta, making the harvest difficult for corn, soybeans. Soybean meal found support at the 20- day SMA and closed higher for two straight days. A new bullish cycle is beginning to emerge and portends a rally to the descending reaction line target at 325.00. â€“ Hold the long position with the stop loss at 289.00.
December Soybean oil â€“ Long from 35.59 â€“ last price @ 38.30 â€“ The market closed as an â€œinside dayâ€ on the projected reversal swing day. This type of price action on a reversal swing day is typically a continuation pattern and should keep the current trend intact. - Hold the long position and move the stop loss to 37.05.
December Wheat â€“ Bullish swing pattern has formed on the descending median line and above the 20- day MA. A trade above $5.29 will confirm the pattern and trigger a buy signal. â€“ Buy Wheat at $5.29 Â¾ stop with the stop loss at $4.96.