Soybean (ZS) Weekly MACD Trying to Positively Cross

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Soybean (ZS) staged a massive 3% plus rally yesterday, but is due for a bit of consolidation today as it bumps up against triangle resistance (on the 4hr chart). Significantly, ZS has recovered downchannel resistance (on the daily chart), and is firming above downchannel resistance (on the weekly chart) after last week's healthy profittaking. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am looking to go long in the green zone (of the daily chart) and am targeting the red zone for Tuesday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).


Soybean (ZS) Weekly/Daily/4hr

ZS (Soybean) Technical Analysis

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