Soybean Target Hit at 1148.00, What's Next?

Soybean Target Hit at 1148.00, What's Next?

(ZSF26) (ZSH26) 

This is an update to a previous post titled,

The Break In Soybeans From 61.8% (1154.00) And The 1148.25 Major Gann Square Continues, Here Is Our Target.

The Soybeans completed the 61.8% (1154.00) to 61.8% (1048.00) per the ONE44 61.8% rule.

Here is what to look for now.

Soybeans

This will be the last update for January.

From last week.

The market never got back above the 1122.00 (23.6%) swing point for the week and it hit the short term target of 38.2% at 1094.00. It had one solid close below it and had no follow through on the downside, 1094.00 is the short term swing point and it needs to get right back above it to keep the trend positive, this will be the key level for the week. A failure to do so can send it down to complete the 61.8% (1154.00) to 61.8% the other way per the ONE44 61.8% rule.

Use 1094.00 as the swing point for the week.

 Below it, look for a completion of the 61.8% (1154.00) to 61.8% back the other way at 1048.00 based on the ONE44 61.8% rule. The long term....

The market could not get back above 1094.00 (38.2%) swing point for the week. It fell just short of completing the 61.8% (1154.00) to 61.8% target of 1048.00 and this will be the key level for the week. We will use the ONE44 61.8% rule to get the longer term upside target of 61.8% the other way. 

Use 1048.00 as the swing point for the week.

Above it, per the ONE44 61.8% rule we will be looking for 61.8% back to the 11/18/25 high at 1125.00. The short term target is 38.2% of the same move at 1096.00, if this is all it can rally it keeps the short term trend negative and a new low can quickly follow. The long term target area is 78.6% at 1144.00 and the 1148.25 major Gann square.

Below it, you still have to watch for a trade down to 1048.00 and a close back above the 1060.50 major Gann square, as this can cause a sharp rally, if this does happen it will lower the retracements above. The short term target level is 1014.75, this is 78.6% back to the 12/19/24 low and a major Gann square. A failure to turn back up from this area will give us only major Gann squares to look for support and then use as the swing point when closed below, the next one is 965.50.

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