Soybeans and Soybean Oil Analysis

Soybeans and Soybean Oil Analysis

The charts are key to this analysis

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.

This is our analysis from 5/6/26

Soybeans

July

(ZSN26) 

From last week,

It now has two minor closes above the 1192.00 (38.2%) swing point and this turns the short term trend positive to go with the longer term trend being positive above 38.2% back to the contract low at 1154.00. We don't want to see a close back below 1192.00 as this would turn the short term trend negative again, so this will be the key level for the week again.

Use 1192.00 as the swing point for the week again.

Above it, the short term trend remains positive and the short term target is 78.6% back to the 3/12/26 high at 1230.00. The long term....

The rally this week above the 1192.00 (38.2%) swing point for the week fell short of the short term target of 78.6% at 1230.00 (1226.25 high) and today it hit the swing point for the week. It traded below it, but closed back above it and this will again be the key level for the week. Holding it keeps the short term trend positive and a new high can follow. The long term trend remains positive above 38.2% back to the contract low at 1154.00.

Use 1192.00 as the swing point for the week again.

Above it, keeps the short term trend positive and with this week's high getting as close as it did to the 78.6% short term target at 1230.00 the new short term target is the 1256.00 major Gann square. The long term target is also the long term swing point at 1294.00, this is 38.2% back on the continuation chart. There is also a major Gann square at 1198.75 to add to the resistance. 

Below it, turns the short term trend negative and with this week's high getting close to the 78.6% level above the short term target will be 78.6% the other way at 1172.00 per the ONE44 78.6% rule. Just below this is the 1160.00 major Gann square and 38.2% of the 12/19/24 low and 3/12/26 low at 1154.00, this is the area that has to hold to keep the long term trend positive. A failure to hold that area will give us a long term target area of the 1107.00 major Gann square, 78.6% back to the 1/2/26 low at 1104.00 and 61.8% back to the contract low at 1094.00.

Soybean Oil

July

(ZLN26) 

From last week,

The rally continues above 61.8% on the continuation chart at 69.10 keeping the trend extremely strong and today it hit the 74.65 major Gann square and this will be the key level for the week.

Use 74.65 as the swing point for the week.

Above it, the long term target area is 78.6% on the continuation chart at 77.20 and the 78.88 major Gann square. A failure ....

The rally above the 74.65 major Gann square and swing point for the week fell just short of the 78.6% level on the continuation chart at 77.20 (76.99 High) and this will be the key level for the week. 

Use 77.20 as the swing point for the week.

Above it, a failure to turn lower from this area will give us only major Gann squares to look for resistance and then use as the swing point when closed above, the next two are 83.03 and 87.82.

Below it, the short term target area is 38.2% back to the 3/17/26 low at 71.90 and the 71.13 major Gann square. Holding this area would keep the trend extremely positive and a new high can quickly follow. The longer term target area is 23.6% back to the contract low at 68.30 and the 67.47 major Gann square. The long term target is also the long term swing point at 62.65, this is 38.2% back to the contract low.

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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