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Red Steele
Veteran Advisor

Chartists...Question

Did soybeans show a formation today that could be construed as a double top, or is the

rally still going ?

4 Replies
c-x-1
Veteran Advisor

Re: Chartists...Question

i name it a coil pattern within a channel of the last few months which tested top of range.

 

never really a rally yet.....looking for support SH 1310 - 1285

0 Kudos
Red Steele
Veteran Advisor

Re: Chartists...Question

Makes sense..we really haven't broken out of the trading range then, and probably won't.

 

May have been a good selling spot, time will tell.

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425Cat
Advisor

Re: Chartists...Question

Should breakout next run
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Red Steele
Veteran Advisor

Re: Chartists...Question

yeah, but you know what they say about failures...would have, could have, should have...didn't.

 

I hope you are right, though, as I have beans to sell.

 

I do know that most of the people I consider weak marketing guys are completely sold out and many never put a bean into a bin. So I do not believe we have a very large supply of soybeans left, as the pipelines were empty last fall before harvest, and lots got sold during harvest.

 

Should be an interesting next few months.