Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.
Soybean futures declined today (5/18) following three previous trading sessions of gains.
This move lower for both July and November soybeans gives me sells signals on the daily chart. This is the first sell signal soybeans have issued since the trend changed to the downside. Soybeans also close below its 50-day SMA, a bearish indicator. The trend is down on the monthly chart for the November and July beans and so far this month they are showing a key reversal.
Although soybeans have not confirmed to me they are in a longer-term downtrend I look for prices to move lower in the short term.
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Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.
- Rick Alexander’s Grain futures commentary (5/18)
- November Soybeans Struggle to Rally with Other Grains (5/18)
- Corn Catches a Nice Bounce Off of Lows (5/17)
- Judy Crawford’s Grain futures Market Update (5/16)
- Soybean Meal futures show a fresh buy signal (5/10)
- Rick Alexander’s Energy futures commentary (5/18)
- Rick Alexander’s Meat futures commentary (5/18)
- USDA Crop Report Quick View (5/10)
- Cotton #2 futures show a fresh sell signal (5/16)
- Rick Alexander’s Metal futures commentary (5/18)
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- Rick Alexander’s Financial futures commentary (5/18)
- Rick Alexander’s Stock Index futures commentary (5/18)
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