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Soybeans Price Forecast Remains Bullish
The #C-SOYB price forecast in our December 24, 2020 technical analysis was bullish.
Market analysis after our #C-SOYB,Daily technical analysis last week still indicates bullish bias.
- #C-SOYB, Daily closed 0.3% up over day after the technical analysis was published.
- However, wetter weather forecast for Argentina and key Brazilian producing area of Mato Grosso for this week is a downside risk for soybeans #C-SOYB.
Here is what indicators show as of December 28, 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 an overbought signal.
- The Fractals give a bullish signal.
- The MA(200) indicator gives a bullish signal.
So the bearish forecast still stands for the #C-SOYB,Daily.
Order | BUY |
Buy stop | Above 1279.4 |
Stop loss | Below 1164.4 |
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