Soybean taking a breather for a climb or fall?
Soybean went as low as $1244 and then closed at $1263 today. The break of the MACD and Stochastic didn’t produce a strong pullback as I have hoped. However, one thing for certain is that by the time even I am sure it’s going to fall, it would have been too late.
I almost entered a short position today. But held back because I am taking enough risk already with the 4 gold contracts. If I’m to cover 2 fewer Gold shorts, then I may enter a Soybean.
Looking at the past year of history, it seems that Soybean corrections precede Gold corrections. Coincidence? They seem to be controlled as a hedge by HB&B. A big drop in prices should come when these people unload their holdings back into the equities. i.e. near the bottom of this bear market.
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