VAREA Signal Trading Alerts; Soybean Chart Review & Support and Resistance Levels 6.24.2021 - Support & Resistance Levels

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

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VAREA Signal Trading Alerts; Soybean Chart Review & Support and Resistance Levels 6.24.2021

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Market Review

Soybeans futures are sitting on what I consider a “junction level”. Price action will determine if the recent sell off is a shift in market bias and the trend is now favoring lower prices OR if this is a support level and simply profit taking.
It is worth noting that most grains are currently in “contango” where front month prices are higher than back months and that by itself presents some interesting spread set ups.

 

 

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Good Trading

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

 

Futures Trading Levels

6-24-2021

Economic Reports, source: 

 www.BetterTrader.co

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

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