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Greetings Traders and Soybean grinders!
Okay, the Nov Soybeans have come to a close and it appears that our
Level 1 price of 613 has held the bottom for today. Our close at the top
620 made for nice quick profits if you entered early on, or it may open
up a good opportunity for those staying in.
The next two resistance prices that I can see for this market is the
last TOP at 625, then 630.
I'll have an order in tonite to exit my LONG trade in this market in the
event it does go there while I sleep. Thus the life of a short term
trader.
cheers!
:)
rick
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**** http://FSoftPublishing.com ****
Market Of The Week Forecast
http://FSoftPublishing.com/forecast/forecast.htm
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From: Rick_Ratchford <ricrat@xxxxxxxxxxxxxxxxxxx>
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Subject: fut:Nov Soybeans
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For those trading Soybeans, here is some PRICE information for 8/25 in
case you are interested.
According to TTC Formation Calc, support is expected here first at 613
(notice L1). If violated, then we would look down to the next level.
So far, it looks good at Level 1.
Here is the calc. For those who can see .gif's, one is also attached.
-----------------------------------------------------------------------
(FIB) V Formation - Nov 97 Soybeans for 8/25
Target Date: 8-25
Formation Dates : 8-1 8-18 8-21
Formation Prices : 655.5 604 625
Target Date Levels: L1-612.82 L2-607.55 L3-603.02
L4-598.23 L5-591.89 L6-580.59
Fib Range Levels : 616.98 614.50 612.02 608.96
-----------------------------------------------------------------------
cheers!
:)
rick
--
**** http://FSoftPublishing.com ****
Market Of The Week Forecast
http://FSoftPublishing.com/forecast/forecast.htm
Attachment Converted: "c:\eudora\attach\beans8251.gif"
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