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Commodity News – Soybeans Futures Technical Analysis – 27 Dec 2022

Commodity News – Soybeans Futures Technical Analysis – 27 Dec 2022

27 Dec 2022

Soybeans Futures Technical Analysis: Weekly Chart

In the weekly charts, Soybeans Future is trading in a down channel. Soybeans Future is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1320.00 the resistance level is at 1425.00

Soybeans Future will trade in a down channel until there is a trend reversal

Soybeans Futures Technical Analysis: Daily Chart

In the daily charts, Soybeans Futures is trading in a down channel. Soybeans Futures is currently trading below all SMA except MA (5).

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1330.00 the resistance level is at 1420.00

Soybeans Futures will trade in a down channel until there is a trend reversal.   

How to Trade Soybeans Futures this Week:

Soybeans Futures will follow the downtrend until its trend reversal. So, remain bearish on Soybeans Futures

TRADE SUGGESTION- SELL AT 1374.70, TAKE PROFIT AT 1310.00 AND STOP LOSS AT 1425.00