The SOYBEAN price forecast in our December 27, 2019 technical analysis was bullish | IFCM UAE

The SOYBEAN price forecast in our December 27, 2019 technical analysis was bullish

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Market analysis after #C-SOYB, Daily December 27, 2019 technical analysis still indicate bullish bias.

  • US production decreased from 120.52 million metric tons in 2018 to 96.62 million metric tons in the FY 2019/2020.
  • US soybean production area has decreased from 35.45 million hectares in 2018 to 30.61 million hectares in 2019/20.

Here is what indicators show as of January 8, 2020:

  • The Parabolic Indicator gives a bearish signal.
  • TheDonchian channel indicates no trend yet: it is flat.
  • The MACD indicator gives a bearish signal.
  • The Stochastic indicator is down but has not breached into oversold zone.
  • The Fractals give bullish signal.
  • The MA(200) indicator gives a bullish signal.

So the bullish forecast still stands for the #C-SOYB,Daily .

OrderBuy
Buy stop Above 960.6
Stop loss Below 937.6

According to USDA.

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