Soybeans Confirming Bottom
01/16/16 Weekly Re-Lay: “Soybeans, Corn & Wheat are slowly validating longer-term cycles & analysis portending a late-2015 bottom. Soybeans turned their intra-month trend up and then their daily trend up before pulling back. That sets the stage for a sharper advance in the coming weeks – a possibility that is strengthened by the weekly 21 MAC, poised to turn up in the coming week.
Ultimately, Soybeans need a weekly close above 908.5/SH to turn their weekly trend up and signal a multi-month bottom. If they can do that in the coming week, it would combine with the weekly LHR pattern & a ~7-week (~51 day) low-high-high-(high) Cycle Progression to project a high for Jan. 25th (–27th).
Looking out a little farther, Soybeans have a very consistent 13-week/~90-degree high-low-low-low-(low)Cycle Progression – that began in late-Feb. 2015 and portends a secondary low in late-Feb. 2016. If they peak around Jan. 25th, late-Feb. would also be a 50% retracement in time.”
Grain markets slowly validating potential for 2016/2017 Food Crisis Cycles and major advance in commodities. Soybeans confirming bottom and expected to set secondary low in late-Feb. 2016 before embarking on significant advance into 3Q 2016. See INSIIDE Track for details on longer-term outlook.