VOT Research Desk

Market Analytics and Considerations

Beginning the week with a shaky appearance, soybean (ZSF23) is vulnerable to a loss in the next days approaching the 38.2% Fib retracement of the decline from the June high to the July low.

It is more likely that this week will see a retest of the psychologically significant 1400 whole figure mark and that by the end of the calendar month, prices will return to triangle support. Follow the progress of the war involving

Russia and Ukraine is getting worse. Traders who warned on August 24, 2020, that ZS remained in play for a pending rally continuation, as well as those who warned on June 14, 2021, of the short opportunity and benefited.

The weekly MACD, which is attempting to cross positive, is being weighed down by the exhausting weekly RSI and stochastics. We would like to want for going long when the daily chart’s green zone is reached, with a focus on Friday’s red zone. If we were a swing trader, we would put a stop in the amber/yellow zone (though not in my personal account, with which we rarely hold overnight, We). sometimes tighten our stops barriers.

January, 23 contract

Soybean – SMA (Daily)