大豆 技術分析 - 大豆 交易: 2019-04-10

Soybean reserves may decline in the US

The U.S. Department of Agriculture (USDA) lowered the forecast for US soybean reserves at the end of the 2018/19 agricultural season by 5 million bushels. Will Soyb prices rise?

On the daily timeframe, Soyb: D1 approached the resistance line of the downward channel. Before opening a buy position, it should be breached up. A number of technical analysis indicators formed buy signals. The further price increase is possible in case of a reduction in world harvest and resumption of US soybean imports to China.

• The Parabolic Indicator gives a bullish signal.
• The Bollinger bands have narrowed, which indicates low volatility. Both Bollinger bands are titled upward.
• The RSI indicator is below 50. It has formed a positive divergence.
• The MACD indicator gives a bullish signal.

The bullish momentum may develop in case Soyb exceeds its three last fractals and the upper Bollinger band at 918. This level may serve as an entry point. The initial stop loss may be placed below the last fractal low, the lower Bollinger band, the 200-day moving average line and the Parabolic signal at 889. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level (889) without reaching the order (918), we recommend to close the position: the market sustains internal changes that were not taken into account.

Summary of technical analysis