Soybean Analysis & Targets

Soybean Analysis & Targets

There are two methods we use at ONE44 to find support and resistance in the markets.

The first are major Gann squares, these are the yellow horizontal lines on the chart.

The second is Fibonacci retracements.

Here are a few basic rules when using the Fibonacci retracements with the ONE44 rules and guidelines.

This is the short version.

A 38.2% level keeps the trend intact and new highs/lows should follow.

A 23.6% level shows the market is extremely strong, or weak.

A 61.8%  level can send the market 61.8% of where it just can from and cause wide swings keeping the market in a trading range.

A 78.6% level can send it 78.6% of where it just came from and even be the end or start of a Bull market.

We have done 45 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. These Videos are worth watching even if it is not in the market you are trading, as the ONE44 rules and guidelines are the same for every market. You will also see why we believe the Fibonacci retracements are the underlying structure of ALL markets. Here is the latest.

Soybeans

(ZSX26) 

This will be the last update for November.

From the Special Update,

The break from the 1297.75 major Gann square/Swing point for the week has now hit the short term target of 23.6% back to the contract low at 1253.00 and this will now be the swing point for the week. Holding this area keeps the long term trend very strong and a new contract high possible. On a failure to hold this level we will look for the long term swing point of 38.2% of the same move at 1198.00.

Use 1253.00 as the swing point for the week.

 The market has two closes below the 1253.00 (23.6%) swing point for the week, if it can close back above it today it can still take a run at a new high, so this will again be the key level for the week. A failure to get above 38.2% back to the contract high will keep the short term trend negative and we will be looking for the long term swing point below.

Use 1253.00 as the swing point for the week again.

Above it, the short term target is 78.6% back to the 9/11/26 high at 1315.00. The long term target is a new high and 61.8% on the continuation chart at 1347.00. Any rally that can't get above 38.2% at 1275.00 is not a good sign and a new low can quickly follow.

Below it, the short term target is the 1226.00 major Gann square. The long term target is 38.2% back to the contract low at 1198.00. A failure to hold this area turns the long term trend negative and we then give new downside targets when and if this happens.

ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

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