RT Swing Trader Blog | News
3Nov/090

Soybeans continue rally

January Soybeans – Long from $9.93 ½ - last price @  $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 “double cross” pattern.

January Soybeans

January Soybeans

Hold the long position and move the stop loss to $9.71.

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30Oct/090

January Soybeans

January Soybeans – 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. – Buy Soybeans at $9.93 ½ stop with a stop loss at $9.60.

January Soybeans

January Soybeans

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29Oct/090

A-B-C continuation pattern setting up in Soy meal

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

December Soybean meal

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28Oct/090

Bullish continuation pattern in Soymeal

December Soybean meal –Long from $301.80 – 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 Tuesday’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. – Buy the Soy meal at 297.50 stop with a stop loss under the swing low.

December Soy meal

December Soy meal

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23Oct/090

December Wheat

December Wheat – Long from $5.29 ¾ - 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. Thursday’s higher close is the second consecutive closes above the (C) pivot and portends a price move to the ascending (blue) median (centerline) line. – Hold the long position with the stop loss at $5.12.

December Wheat

December Wheat

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23Oct/090

November Soybeans

November Soybeans – Long from $10.13 ½ - last price @ $10.05 ¾ - Heavy rain continues to fall throughout the Midwest and on the Mississippi River Delta, making the harvest difficult for corn, soybeans. Wednesday’s sharp rally stopped at the descending reaction line. Thursday’s “inside day” will help the market build energy and retest the reaction line and possibly break through on Friday. -  Hold the long position with the stop loss at $9.75.

November Soybeans

November Soybeans

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23Oct/090

December Soymeal

December Soybean meal –Long from $301.80 – last price @ 300.80 – 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. – Hold the long position with the stop loss at 289.00.

December Soybean meal

December Soybean meal

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23Oct/091

December Bean oil approaching target objective

December Soybean oil – Long from 35.59 – last price @ 38.30 – The market closed as an “inside day” 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 Bean oil

December Bean oil

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20Oct/090

December Wheat trend shift

December Wheat – 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. – Buy Wheat at $5.29 ¾ stop with the stop loss at $4.96.

December Wheat

December Wheat

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20Oct/090

December Copper

December Copper – Long from 288.75 – last price @ 295.30 – Octagon Research says China's booming economy may even stronger than people thought, with most analysts underestimating the country's copper consumption. Adding to this longer-term bullish secenerio, miners is Peru began a nationwide strike and the strike at the BHP Billiton Ltd mine in Chile entered its seventh day. Looking at the charts,  this breakout followed a period of consolidation where December Copper futures had formed a longer-term continuaiton pattern, suggesting rally into the descending reaction line target objective currently at 326.00.-  Hold the long position with the stop loss at 288.75.

December Copper

December Copper

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