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Soybean Price Bias Is Still Bullish
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The #C-SOYB price forecast in our June 5, 2020 technical analysis was bullish.
- Market developments after #C-SOYB,Daily June 5, 2020 technical analysis still indicate bullish bias.
- 2020/21 soybean export sales nearly tripled from 7.5 million bushels prior week to 22.3 million bushels last week.
- Weekly US soybean export shipments increased 5.6 million bushels to 17.7 million bushels .
Here is what indicators show as of June 8, 2020:
- The Parabolic Indicator gives a bullish signal.
- The Donchian channel indicates uptrend: it is narrowing up.
- The MACD indicator gives a bullish signal.
- The RSI oscillator gives a neutral signal.
- The Fractals give bullish signal.
- The MA(100) Indicator gives a bullish signal.
So the bullish forecast still stands for the #C-SOYB,Daily.
| Order | BUY |
| Buy stop | Above 877.5 |
| Stop loss | Below 836.2 |
USDA weekly export report
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