Soybean (ZS) Daily MACD Trying to Positively Cross

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Soybean (ZS) bounced roughly 1% Friday, closing at triangle resistance (on the 4hr chart). Given the WASDE originally scheduled for Jan 11 has been postponed due to the ongoing shutdown of certain US government services, ZS will likely continue consolidating within an ascending triangle (on the weekly chart) ahead of the eventual reopening of the relevant government department and the subsequent release of the latest WASDE. 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), and am targeting the red zone for Wednesday. 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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