Technically Speaking
Darin Newsom DTN Senior Analyst

Saturday 12/01/12

Jan Beans' Bullish Signal
Despite Friday's selloff in the market, Jan soybeans were able to post a bullish signal on its weekly chart.[Read Full Blog Post]
Posted at 8:30AM CST 12/01/12 by Darin Newsom | Post a Comment
Comments (2)
how do you determine if the bounce we seen was a bullish change or just a correction off of support in a bear market????????
Posted by JeremeyFrost at 1:27PM CST 12/02/12
Great question Jeremey. When deciding whether or not this is a major (long-term) or secondary (intermediate-term) change in trend, I compare weekly signals to monthly signals. In this case, the secondary (weekly chart) has turned bullish while the major (monthly chart) remains bearish (monthly stochastics established a bearish crossover above 80% at the end of Septembber 2012). Given this scenario, and adding in the continued high volatility and downtrend in the futures spreads (less bulllish commercial outlook), the indicated seasonal rally in soybeans should see a 50% to 67% retracement of the initial major downtrend. Again, thanks for your questions.
Posted by DARIN NEWSOM at 9:23AM CST 12/03/12
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