Soybeans Are Heating Up. Here’s What Could Take Them Much Higher.

Futures Futures Soybeans (ZSX25) offer an opportunity to buy on more price strength.

Look at The Daily Bar Chart for soybeans in November, prices rose from the lowest level in August, and last week became the highest level in six weeks. Also see, at the bottom of the graph that the MACD is in a bullish position because the blue MACD line is higher than the red player line and both lines are heading up.

Basically, the future soybean market received last week a friendly report of the US Monthly Ministry of Agriculture and demand, and a monthly crushing report, and it seems that merchants have already clarified in the current prices a crop of US soybean, which was harvested this fall. The ice on the cake will be in favor of Bean Bulls in the coming weeks better for the trade relations of the United States of China, which is likely to mean a better request for a Chinese demand for soybeans.

The step in November Future soybeans over the resistance of the plans at the highest level last week at $ 10.49 will give Bulls Fresh Power, and will also become the opportunity to buy. The purpose of the bullish trend will be $ 11.25, or higher. Technical support, which must be placed for a precaution, is slightly lower, at $ 10.20.

Important note: I am not a future mediator and I do not manage any trading accounts other than my personal account. My goal is to indicate possible trading opportunities. However, it is up to you to: (1) Select when and if you want to start any deals and (2) Determine the size of any deals that may start. Any deals I discuss are default by nature.

Here is what the CFTC Futures Trading Committee said about futures trading (and I agree 100 %):

Trading futures and options in the commodity is not for everyone. It is a volatile, complex and risky work. Before you invest any money in futures contracts or options, you should think about your financial experience, goals and financial resources, and know the amount that you can lose over your initial payments to a broker. You should understand futures and futures contracts for commodities and your obligations to enter these contracts. You must understand your exposure to risks and other aspects of trading by reviewing the accurate risk detection documents, and asking your broker to provide you with.

On the date of publication, Jim Wyckoff did not have positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data in this article are only for media purposes. This article was originally published on Barchart.com