In the Soybean futures market, a stabilization trend is evident. Several indicators suggest that this bottoming process appears to be sustainable.
When considering the price in relation to standard deviations, it becomes apparent that the current price is within the range of its mean.
Given the presence of a concealed yet distinctly bullish On-Balance Volume (OBV) divergence, there is a reasonable expectation that the Soybean futures will soon ascend to the 1430 level, coinciding with a Buyside Liquidity zone.
For these reasons, we maintain a bullish outlook on Soybean futures.
The outlined trade idea is presented as a suggestion for a specific trade with a Risk-Reward Ratio (RRR) exceeding 2.0:1.
When considering the price in relation to standard deviations, it becomes apparent that the current price is within the range of its mean.
Given the presence of a concealed yet distinctly bullish On-Balance Volume (OBV) divergence, there is a reasonable expectation that the Soybean futures will soon ascend to the 1430 level, coinciding with a Buyside Liquidity zone.
For these reasons, we maintain a bullish outlook on Soybean futures.
The outlined trade idea is presented as a suggestion for a specific trade with a Risk-Reward Ratio (RRR) exceeding 2.0:1.