Soybeans MAY 2021 has broken through the resistance line of a Triangle technical chart pattern. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before trading. It has touched this line twice in the last 14 days and suggests a target line to be around 1418.2481 within the next 2 days.
Related Posts
Natural Gas – approaching a resistance line that has been previously tested at least twice in the past
Natural Gas is heading towards the resistance line of a Triangle. If this movement continues, the price of…
Because Silver Spot formed a Channel Up pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher
An emerging Channel Up has been detected on Silver Spot on the 4 hour chart. There is a…
Natural Gas is quickly approaching the support line of a Channel Down. We expect either a breakout through this line or a rebound.
Emerging Channel Down detected on Natural Gas – the pattern is an emerging one and has not yet…