Soybeans

(ZSK25) 

The chart is key to this analysis.
 

May

The setback from the two key long term Fibonacci retracement at 1092.00 has yet to find a bottom. This level was 38.2% back to the contract high and 23.6% on the continuation chart. This still has the chance to send it to a new low, but as always we watch all the retracements on every move to see just how weak, or strong the market is regardless of the longer term target.

The first setback from the 2/5/25 high held above 38.2% back to the 12/19/24 low at 1041.00, it failed to make a new high from that level and when it took out 1041.00 it turned the short term trend negative. The break from there got one close below 61.8% at 1007.00, but the next day it was right back above it and it rallied to 38.2% back to the 2/5/25 high at 1031.00, this was also a major Gann square. This was the ONE44 swing point for the week for our Premium Members.

This was from the 3/6/25 update,

There was no turn higher from the 1031.00 major Gann square. The break this week took it to and through the short term target of 61.8% at 1008.00, it had one close below it and the next day was right back above, the rally from there has hit 38.2% back to the 2/5/25 high at 1031.00, this is also a major Gann square and will be the key level for next week. A failure to get above this level will keep the short term trend negative.

Use 1031.00 as the swing point for the week. 

This is from today's update,

It failed to take out the 1031.00 swing point for the week, this was a 38.2% retracement and major Gann square. The high for the week was 1032.50 and the setback from it took it to 994.00. This week's low didn't take out the previous low on 3/4/25 and as long as this low holds we will look for a completion of the 61.8% (1008.00) to 61.8% at 1054.00. Being below 1031.00 keeps the short term trend negative and this will again be the key level for the next week. Without making a new low this week all the Above/Below remain the same.

The short term target Above is 61.8% at 1054.00.

The short term target below is 78.6% of the 12/19/24 low and 2/5/25 high at 985.00.

We have done 45 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. These Videos are worth watching even if it is not in the market you are trading, as the ONE44 rules and guidelines are the same for every market. You will also see why we believe the Fibonacci retracements are the underlying structure of ALL markets.

Here is the latest.

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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.

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