- Analytics
- Technical Analysis
Soybean Trade Technical Analysis - Soybean Trade Trading: 2023-03-01
Soybean Technical Analysis Summary
Below 1475
Sell Stop
Above 1550
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Neutral |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Bollinger Bands | Sell |
Soybean Chart Analysis
Soybean Technical Analysis
On the daily timeframe, SOYB: D1 broke down the support lines of the long-term uptrend and the triangle, and also fell below the 200-day moving average line. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if SOYB: D1 falls below its most recent low at 1475. This level can be used as an entry point. The initial risk limit is possible above the 200-day moving average line, the last upper fractal, the upper Bollinger band, the Parabolic signal: 1550. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal high. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (1550) without activating the order (1475), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Commodities - Soybean
A large soybean crop in Brazil could offset a decline in soybean production in Argentina. Will SOYB quotes continue to decline?
According to the Rosario Grains Exchange, Argentina's soybean harvest could be the lowest in 14 years. This will lead to a reduction in exports. The soybean area in Argentina in the 2022/2023 season is about 15.9 million hectares. This is 2.5% less than in the previous season 2021/2022. In turn, Brazil this season increased the area under soybeans by 4.6% to 43.3 million hectares. The US Department of Agriculture (USDA) estimates the soybean crop in Brazil at 153 million tons, and in Argentina at 41 million tons. Compared to the previous season, soybean production in Brazil may increase by 23.5 million tons, while in Argentina it will decrease by 3 million tons.
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Stop Out Level - Only 10%
Ready to Trade?
Open Account Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
