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July Soybean Special update

July Soybean Special update
Photo by Thomas Pierre / Unsplash



From last week,

Use 1437.25 as the swing point for the week.
Above it, the targets are mentioned above and one thing to watch for is a trade over 1437.25 and a close below it on the same day, as this can cause a quick run back to the lows.

Monday spiked above the 1437.25 swing point for the week, but failed to close above it and this did cause a quick run back to the lows. This morning it hit 78.6% of last week's rally at 1404.00. Following the ONE44 78.6% rule, we know that the first target is 78.6% the other way and this is right at the 1437.25 major Gann square and that it can also become the start of another Bull run. It already had made a slightly lower low on 5/3/23 after hitting 38.2% above on 5/2/23 and with the retest of the lows it brings back what we were looking for longer term on the upside "provided" the 1404.00 level holds.

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