- Analytics
- Technical Analysis
Soybean Trade Technical Analysis - Soybean Trade Trading: 2021-07-05
Soybean Technical Analysis Summary
Above 1422
Buy Stop
Below 1264
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Donchian Channel | Neutral |
Soybean Chart Analysis
Soybean Technical Analysis
The #C-SOYB technical analysis of the price chart on daily timeframe shows #C-SOYB,Daily has breached above the 200-day moving average MA(200), which is rising itself. We believe the bullish momentum will continue as the price breaches above upper Donchian boundary at 1422. A pending order to buy can be placed above that level. The stop loss can be placed below the lower Donchian boundary at 1264. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Commodities - Soybean
US soybean stocks were down while export sales were up according to latest USDA reports. Will the SOYBEAN price continue rising?
US Department of Agriculture reported soybean stocks were down and net sales were up - according to US Grain Stocks and Export Sales reports. Thus, soybeans stored on June 1, 2021 totaled 767 million bushels, down 44% from June 1, 2020. And soybeans net sales were up 62% from the prior 4-week average based on reports from exporters for the period June 18-24, 2021. Lower stocks higher demand as indicated by sales reports are bullish for #C-SOYB.
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Stop Out Level - Only 10%
Ready to Trade?
Open Account Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
