3 min read Grains special update

Quick update for Soybeans and Meal 9/18/23

Quick update for Soybeans and Meal 9/18/23
Photo by James Baltz / Unsplash

Soybean Meal


December  

Meal has now completed the 6th 78.6% retracement in 3 months at 388.50.This part of the ONE44 78.6% rule says it all,

When a market does react to 78.6% it usually creates wide swings that go through all the other retracements, this either happens in very large trading ranges or very small....


This Video has more about 61.8% and 78.6% retracements.


It can always trade through a retracement, but the close is key to it holding, also It takes two lower closes in a row to violate a level. The reverse at tops.

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