Lower US soybean supply bullish for #C-SOYB: Daily

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Market analyses after World Agricultural Supply and Demand Estimates November report indicate bullish bias for #C-SOYB: Daily .

US soybean production estimate was lowered more than 2% for 2020/21 in WASDE November report.
#C-SOYB: Daily recorded 4.2% gain for the week ending November 20.

Here is what indicators show as of November 23, 2020:

The Parabolic Indicator gives a bullish signal.
The Donchian channel indicates uptrend: it is tilted up.
The MACD indicator gives a bullish signal: it is above the signal line and the gap is widening.
The RSI oscillator gives a bearish signal.
The Fractals give a bullish signal.
The MA(200) indicator gives a bullish signal.

So the forecast is bullish for the #C-SOYB: Daily.

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