Soybeans are approaching one of the more important technical levels on the weekly chart.
After the prolonged bear market, price appears to have developed a broad multi-year rounding base around the 950–1,050 region. The recovery has since produced higher lows and improving momentum.
More importantly, the recent structure resembles a smaller cup-and-handle / rounded continuation pattern immediately underneath the 1,247–1,250 resistance zone.
Technical setup:
Long-term basing structure appears increasingly mature.
Higher-low sequence developing.
1,247–1,250 remains the major breakout level.
Volume participation has improved during the recovery.
A decisive weekly close above 1,250 would materially strengthen the bullish structure.
Until then, this remains a setup approaching breakout — not a confirmed breakout.
view: I am watching 1,247–1,250 closely. A clean breakout followed by acceptance/retest would offer better confirmation than anticipating the move below resistance.
After the prolonged bear market, price appears to have developed a broad multi-year rounding base around the 950–1,050 region. The recovery has since produced higher lows and improving momentum.
More importantly, the recent structure resembles a smaller cup-and-handle / rounded continuation pattern immediately underneath the 1,247–1,250 resistance zone.
Technical setup:
Long-term basing structure appears increasingly mature.
Higher-low sequence developing.
1,247–1,250 remains the major breakout level.
Volume participation has improved during the recovery.
A decisive weekly close above 1,250 would materially strengthen the bullish structure.
Until then, this remains a setup approaching breakout — not a confirmed breakout.
view: I am watching 1,247–1,250 closely. A clean breakout followed by acceptance/retest would offer better confirmation than anticipating the move below resistance.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.