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The SOYBEAN price forecast in our December 27, 2019 technical analysis was bullish
Market analysis after #C-SOYB, Daily December 27, 2019 technical analysis still indicate bullish bias.
- US production decreased from 120.52 million metric tons in 2018 to 96.62 million metric tons in the FY 2019/2020.
- US soybean production area has decreased from 35.45 million hectares in 2018 to 30.61 million hectares in 2019/20.
Here is what indicators show as of January 8, 2020:
- The Parabolic Indicator gives a bearish signal.
- TheDonchian channel indicates no trend yet: it is flat.
- The MACD indicator gives a bearish signal.
- The Stochastic indicator is down but has not breached into oversold zone.
- The Fractals give bullish signal.
- The MA(200) indicator gives a bullish signal.
So the bullish forecast still stands for the #C-SOYB,Daily .
Order | Buy |
Buy stop | Above 960.6 |
Stop loss | Below 937.6 |
According to USDA.
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