Wheat: No comment. Exploded after few days flag consolidation. Trend is extremely bullish, primer support range is 600-612. May be bit overbought here, but any retracement is a buy in line with the trend.
Corn: Nice bullish trend, and it has more room to rally, especially if it would like to keep pace with Wheat.
Soybeans: The lagging one. Let's dig into the details, as this one could be the next positive surprise.
It has moved out of / above the Kumo with sideaway trading, and also broke the downtrend line, but it is still stuck in a range 1000 - 1058. Chikou Span is still at Price candles and in the Kumo. ADX is extremely low, which also tells us Soybean is not trending at moment. What do we have to pay attention for? Future Kumo points up, so the bias is more developing bullish. The key levels are 1036 (Kijun Sen) and more importantly 1058 (top of the range. Once these key resistances are cleared, it can very quickly catch up and extend a bullish move towards 1200.
If we see a spike with volume increase, then we'll hav emore confirmation signals following, like strong bullish Tenkan/Kijun cross, bullish DMI cross with increaing ADX and later a Chikou Span cross above the Kumo.
Either you participated or missed the bullish trend in Wheat and Corn, I think now it worths to pay attention for Soybeans. Sooner or later it can be the next sweet child for trend followers.
Corn: Nice bullish trend, and it has more room to rally, especially if it would like to keep pace with Wheat.
Soybeans: The lagging one. Let's dig into the details, as this one could be the next positive surprise.
It has moved out of / above the Kumo with sideaway trading, and also broke the downtrend line, but it is still stuck in a range 1000 - 1058. Chikou Span is still at Price candles and in the Kumo. ADX is extremely low, which also tells us Soybean is not trending at moment. What do we have to pay attention for? Future Kumo points up, so the bias is more developing bullish. The key levels are 1036 (Kijun Sen) and more importantly 1058 (top of the range. Once these key resistances are cleared, it can very quickly catch up and extend a bullish move towards 1200.
If we see a spike with volume increase, then we'll hav emore confirmation signals following, like strong bullish Tenkan/Kijun cross, bullish DMI cross with increaing ADX and later a Chikou Span cross above the Kumo.
Either you participated or missed the bullish trend in Wheat and Corn, I think now it worths to pay attention for Soybeans. Sooner or later it can be the next sweet child for trend followers.
