This is a classic bullish technical versus bearish fundamental setup. Resolution of this conflict may be the short term completion of the bullish fill pattern and a subsequent long-term decline as the market reconciles with bearish reality.
Friday, May 31, 2013
Soybean Technicals versus Fundamentals
Most recent fundamentals-midwest rains-are bearish while July soybeans are trying to fill last week's $5.50 overhead gap.
COURTESY BARCHART.COM
This is a classic bullish technical versus bearish fundamental setup. Resolution of this conflict may be the short term completion of the bullish fill pattern and a subsequent long-term decline as the market reconciles with bearish reality.
This is a classic bullish technical versus bearish fundamental setup. Resolution of this conflict may be the short term completion of the bullish fill pattern and a subsequent long-term decline as the market reconciles with bearish reality.
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