Range bound trading still in tact. Liquidity sweep completed. We've also formed a 20k range vs previous 25k range. Observing for retrace back to into the grey area which holds strong confluence. If we sell off further, we potentially dip further into the monthly imbalance below 89k.
We just dont know. up or down? Feels up is the way to go upcoming week. Just a projection. lets see how it plays out.
Wheat is already within a critical resistance zone that has times before led to bearish reversals. In any case this area, marked by previous price rejections, could once again attract selling pressure. If bearish confirmation occurs—through rejection wicks, bearish engulfing candles, or a decrease in buying volume—we could see a decline toward the 542,00 level. However, a breakout above this resistance would invalidate the bearish outlook and suggest potential for further upward movement. So keep an eye on that. Wait for clear signs of rejection before considering short positions.
Hopefully this plays out well with some nice returns
FOREXCOM:SOYBEAN has reached a significant resistance level. This level has consistently acted as a key area of interest where sellers regained control, leading to prior reversals. If the price action confirms a rejection, I anticipate a move downward toward the 1,030 level. However, if the price successfully breaks and holds above the zone, this would invalidate the bearish outlook and could open the door for further upside. Traders should monitor price action closely at this critical resistance area. Proper risk management is essential, given the possibility of price breaking higher. If this analysis resonates with you or you have a different perspective, feel free to discuss in the comments!
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