December Soybean meal â€“ The four-day setback has formed a new reaction swing pattern and the final segment of a bullish TR swing pattern after finding support above the 20-day MA and turned higher.Â Over the last few days, Soy meal staged a strong rally, as it broke out of the longer-term continuation pattern. The current correction is forming a potential bullish â€œsetupâ€ for a longer-term buy signal.Â Buy Soy meal at 302.50 stop, with a stop loss at 289.00
December Soybean oil â€“ Long from 35.59 â€“ last price @ 37.59 â€“Soybean oil continued the upward climb during Mondayâ€™s session as weather concerns keep supporting the soybean complex. Traders will be keeping a sharp eye on Monday afternoonâ€™s Crop progress report more insight into harvest progress. - Hold the long position, with the stop loss at 36.40.
10/19/09 - 10:54 am MST - A bullish reaction swing is forming above the 20- day SMA. If confirmed, this pattern will also confirm the longer-term TR swing pattern and trigger a buy signal.
NovemberÂ Soybeans â€“ A bullish TC swing pattern has formed under the ascending centerline. This is the final segment of a bullish TR swing pattern that could confirm the beginning of a new bullish reaction cycle.Â Buy Soybeans at $10.13 Â½ stop, with a stop loss under the (D) swing low.
December Soybean meal â€“ The three-day setback has formed a new reaction swing pattern and the final segment of a bullish TR swing pattern. I look for a little more of a pullback to test support at 285.90. Over the last few days, Soy meal staged a strong rally, as it broke out of the longer-term continuation pattern. The current correction is forming a potential bullish â€œsetupâ€ for a longer-term buy signal.Â Buy Soy meal at 285.90 or lower, with a stop loss at 275.00.
December Soybean oil â€“ Long from 35.59 â€“ last price @ 36.78 â€“Bean oil traded low enough to trigger the buy signal at 35.59, before turning higher and traded below the low of Wednesdayâ€™s â€œinside dayâ€ to trigger the buy signal.Â Hold the long position, with the stop loss at 35.40.
10/15/09 - 9:45 am MST - November Soybeans have staged a significant rally over the past few days. After gaining over $1.35 in just six days, Soybeans reached the projected descending reaction line target objective one day after projected reversal swing day. InÂ a good example of time and price confluence, Soybeans reversed and dropped over 40-cents in two days. However, the price action is forming a bullish TC swing pattern "setup" for a new trade signal.
December Corn â€“ Long from $3.43 â€“ last price $3.81 Â¼Â â€“ December corn straddled the ascending centerline and closed slightly above it, as it tries to build enough momentum to push higher into the October 19th reversal swing day and the descending reaction line target objective of $3.90 . - Hold the long position and keep the profit stop to $3.72.
10/13/09 - 9:05Â am MST - After posting a low of $8.78 3/4 on the October 5th reversal swing day, November Soybeans futures have closed higher 5 days in a row, gaining over $1.34 in during that time. The reverse/forward count was used to project a minor reversal swing day for Monday, October 12 and a price target objective of $10.13.Â On Tuesday, October 13th--one day after the projected reversal swing day--November Soybeans have traded to a high of $12.12 1/4 before backing off to $9.93. This is a great example of Time and Price confluence in the markets.
December Corn â€“ Long from $3.43 â€“ last price $3.81 Â¼Â â€“ December corn closed up 19 cents after several northern Midwest states experienced snow, rain, and freezing temperatures over the weekend. December Corn breached the old high at $3.76 and closed above the ascending centerline. Â Â Hold the long position and raise the profit stop to $3.72.