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Soybean Trade Technical Analysis - Soybean Trade Trading: 2020-05-11
Soybean Technical Analysis Summary
Above 855
Buy Stop
Below 815
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Soybean Chart Analysis
Soybean Technical Analysis
On the daily timeframe, SOYB: D1 breached up the border of the triangle, which matches with the resistance line of the downtrend. A number of indicators of technical analysis formed signals for a further increase. We do not exclude a bullish movement if SOYB rises above the last upper fractal: 855. This level can be used as an entry point. We can set a stop loss below the Parabolic signal, the annual minimum, the lower Bollinger line and the last 4 lower fractals: 815. After the pending order is opened, we move the stop loss following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of the trend. If the price meets the stop level (815) without activating the order (855), it is recommended to delete the order: some internal changes in the market have not been taken into account.
Fundamental Analysis of Commodities - Soybean
The Government of Argentina intends to increase export duties on soy, livestock feed (soy meal) and soybean oil by one third . Will SOYB quotes grow ?
Argentina is the third largest soybean producer in the world after the United States and Brazil. It is the world’s main exporter of soybean meal and oil. Note that, according to forecasts, in the 2019/20 agricultural season, the soybean crop in Argentina will drop by 5.8 million tons to 49.5 million tons, compared with the previous season. Global consumption may increase. FutureBridge Consulting Company expects growth in the global vegetable protein market by 20% in 2020-2022. The United States Department of Agriculture (USDA) forecasts an increase in soybean demand in China in 2020 up to 89 million tons, which is 7.8% more than in 2019.
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