Soybeans Analysis & Targets

Soybeans Analysis & Targets

The chart is key to this analysis.

(ZSK26) 

There are two methods we use at ONE44 to find support and resistance in the markets.

The first are major Gann squares, these are the yellow horizontal lines on the chart.

The second is Fibonacci retracements.

Here are a few basic rules when using the Fibonacci retracements with the ONE44 rules and guidelines.

This is the short version.

A 38.2% level keeps the trend intact and new highs/lows should follow.

A 23.6% level shows the market is extremely strong, or weak.

A 61.8%  level can send the market 61.8% of where it just can from and cause wide swings keeping the market in a trading range.

A 78.6% level can send it 78.6% of where it just came from and even be the end or start of a Bull market.

Here is this week's Analysis.

May

From last week,

This week's range was inside of last week's range keeping this market tightly wound. The bigger picture still looks positive as long as they hold 38.2% back to the contract low at 1139.00 and a rally from it can take it to a new high (ONE44 38.2% rule), however until it can take out 38.2% back to the 3/12/26 high at 1182.50 it could still trade down to 1139.00, so 1182.50 will be the key level for the week again. With the tight range all the Above/Below targets remain the same.

Use 1182.50 as the swing point for the week.

 The break this week held above 38.2% at 1139.00 (1140.50 low) keeping the longer term trend positive and a run at new highs possible, this will be the key level for the week. It will still need to take out 38.2% back to the 3/12/26 at 1177.50 to turn the short term trend positive.

Use 1139.00 as the swing point for the week.

Above it, the short term target area is 38.2% at 1177.50 and the 1182.50 major Gann square, a failure to get above this area after holding the longer term 38.2% at 1139.00 would not be a good sign and a new low can quickly follow. The longer term target is 78.6% of the same move at 1217.00. The long term target is also the long term swing point at 1261.00, this is 38.2% on the continuation chart.

Below it, turns the longer term trend negative and the target area is 1091.00 to 1083.00, this is 78.6% back to the 1/13/26 low, a major Gann square and 61.8% back to the contract low.  The long term target area is the 1031.25 major Gann square and 78.6% back to the contract low at 1027.00.

We have done over 45 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. This is our latest.

ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

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