Soybean (ZS) Reverses Post-WASDE Losses
Darren Chu, CFA of Tradable Patterns - InsideFutures.com - Sun Feb 10, 9:58PM CST

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Soybean (ZS) has reversed its post-WASDE losses, bouncing off ascending wedge support (on the 4hr chart). Significantly, although the post-WASDE dip dragged the daily Stochastics and MACD bearishly lower, the subsequent reversal higher leaves ZS just below the 38.2% Fib retrace of the April to September slide. Except for the daily Stochastics and MACD, the weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am looking to go long in the green zone (of the daily chart), targeting the red zone for Thursday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).

Soybean (ZS) Weekly/Daily/4hr

ZS (Soybean) Technical Analysis

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