Soybeans

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May Soybeans rose out of a tweezer candlestick reversal today. May see another up day tomorrow. Seeing that beans are pressured by Brazil harvest, we consider this a retracement and fall into bullish Butterfly. Suggest 50% or 61.8% next target. However, open interest is still rising and we are still in an uptrend. If market continues up, possible double top.
Anmerkung
Sales for Soybeans today, 8.7 million bushels of U.S. soybeans sold to unknown destinations. The deal included nearly 6.3 million of the 2016/2017 crop year and 2.4 million of the 2017/2018 crop. Weekly export sales on Thursday are expected to be similar to or greater than last week’s 19.8 million bushels.
ButterflySpinning TopTweezer Bottoms

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