SBEAN futures

Technical Analysis – Soybean futures pause bearish action; could bounce up in short-term

Posted on April 24, 2018 at 1:42 pm GMT

Soybean futures for May delivery have already erased half of their gains made from April 3 to April 14 and are now consolidating losses near three-week lows in the four-hour chart. In the short-term, the downward pattern could remain in place as long as the SMAs trend to the downside and prices hold below them. Still, upside movements cannot be ruled out yet since both the RSI and the Stochastics are currently located in the oversold area, with the former fluctuating marginally below [..]

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