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Soybean Meal Elliot Wave

Long
Soybean Meal Futures (May 2018) (CBOT:ZMK2018)  
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CBOT:ZMK2018   Soybean Meal Futures (May 2018)
Pivot Points Elliott Wave Cypher
1
0
pivotpoints elliottwaves cypherpattern
May Soybean appears to be creating an Elliot Wave. Gap up day suggests higher highs to R3. Bullish Cypher possible pattern, which may form a head and shoulders. Uptrend in play.
Commento:
Meal went over target hit R3 and was traded back. May make another run up before settling back a little. H&S still possible. Head has not been formed.
Commento:
Meal still at R3. May make a run to 380 increasing wave 3 position, or drop tomorrow back down to R2.
Commento:
Meal eclipsed R3 and hit RSI target from back in July 2017. Negative candle suggests this maybe the pull back to R2. Not sure we will see that area at 258. Meal still bullish. Expect last wave of Elliot now looking at 400.
Commento:
Negative tilt to Meal today. RSI roll. May see pull back for Elliot Wave position 4.
Commento:
Meal doesn't want to fall and correct, although looking bearish. Looking for confirmation of direction. Expect some kind of fall next week.
Commento:
Meal still no significant direction
Commento:
Meal making another run up. 400 possible target.
Trade chiuso manualmente:
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Idee correlate

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Soybean Meal Bearish Butterfly
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