Klarenbach Grain Report Chart of the Day

 

Soybean Spread

 

NOV26-NOV27

 

We shared this idea in the Grain Report last week.

 

A Head & Shoulders pattern appears to be forming.

 

It appears to be forming, as I am not convinced the neckline has been broken.

 

Notice the buying stepping in at the green 50-day Moving Average.

 

Check out the RSI and MACD.

 

Place your bets.

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Trent Klarenbach, BSA AgEc, PAg, publishes the Klarenbach Grain Report,  Klarenbach Special Crops Report, The Daily Board and The Daily Kernel newsletters.                                                                                                                                                                                                                                                                                                                                                                                                   

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Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.