With the soybeans complex on a screamer rally, I wanted to point out a very important signal that popped up on my radar last week. And why it may mean that a soybeans top is in or nearing.
An ExtremeHurst weekly top extension has recorded on soybeans (see my other articles on Extreme Hurst for what this means in detail). In short, this should forecast a flat to down move for up to 2-3 months.
So the big concern here is a short-term soybeans top forming.
Note as well that a price volume cross (which denotes a volume climax) has triggered last week).
Trade safe. Thanks for reading.
The author does not have a position in the mentioned security at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.