SBEAN

Technical Analysis – Soybean futures take a breather above 50.0% Fibonacci; buyers regroup

Posted on September 26, 2019 at 3:04 pm GMT

US Soybean futures adopted a sideways market after a corrective move reversed the commodity back down to 8.82, which is the 50.0% Fibonacci retracement of the down leg from 9.2280 to 8.4070 and where the upper boundary of the Ichimoku cloud lies. The short-term oscillators reflect a stall in momentum but lean more towards a push higher. The MACD is only just above its red trigger line in the positive zone, while the RSI is in the bullish territory, pointing [..]

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