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Soybean Trade Technical Analysis - Soybean Trade Trading: 2020-02-14
Soybean Technical Analysis Summary
Above 905.3
Buy Stop
Below 885
Stop Loss
| Indicator | Signal |
| MACD | Buy |
| Stochastic | Sell |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Buy |
| Parabolic SAR | Buy |
Soybean Chart Analysis
Soybean Technical Analysis
On the daily timeframe the SOYB: D1 is testing the 200-day moving average MA(200), which is rising. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 905.3. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the last fractal low at 885. 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 (885) without reaching the order (905.3), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Commodities - Soybean
US Department of Agriculture increased its forecast for US soybean exports and lowered soybeans carryover estimates. Will the soybean prices continue rising?
US Department of Agriculture increased its forecast for US soybean exports by 50 million bushels to 1.825 billion bushels in its WASDE February 11 report. At the same time it estimated a 10.5% decline of US soybean carryout from last month. And China customs data indicate soybean imports by China totaled 88.5 million tons for 2019, up 0.5% year on year, despite African Swine Fever and the trade war. Higher export and lower carryover forecasts are bullish for soybean prices.
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