Sunday, March 11, 2012

May Soybeans leave a Doji on the Chart

Here is a May Soybean chart; it shows that we left a doji on the charts on Friday.  Is this a sell signal that things are about over for the very overbought beans?  Stoch is over done and shows it is signalling down.  If you look back towards Sept you see that Friday we also filled the small 3/4 cent of gap left back then.

Is this doji any different then the ones we have seen the past couple of months in the remarkable rally?

I guess only time will tell; my 2 cents is there is a lot of risk on this chart just because of the length we have obtained lately by the funds and fundamentally the news is getting a little tired.

No comments:

Post a Comment