Soybeans are Holding Key Levels Below, is 1095.00 Next, Updated

Soybeans 

We did a post last week about how the market needed to hold 38.2% to keep the trend intact, it not only did that , but went on to new high as you can expect when holding a 38.2% level. This week's outlook is below.

March

(ZSH25) 
The chart below is key to this analysis.

There are two methods we use at ONE44 to find support and resistance in the markets.

The first are major Gann squares, these are the yellow horizontal lines on the chart. On the chart you can see where the market turned multiple times at these levels.

The second is Fibonacci retracements and this is what most of this post will be about.

There are two methods we use at ONE44 to find support and resistance in the markets.

The first are major Gann squares, these are the yellow horizontal lines on the chart. On the chart you can see where the market turned multiple times at these levels.

The second is Fibonacci retracements and this is what most of this post will be about.

There are a few basic rules when using the Fibonacci retracements with the ONE44 rules and guidelines.

This is the short version.

A 38.2% level keeps the trend intact and new highs/lows should follow.

A 23.6% level shows the market is extremely strong, or weak.

A 61.8% level can cause wide swings and keep the market in a trading range.

A 78.6% level can send it 78.6% of where it just came from and even be the end or start of a Bull market.

We have done 44 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.

March

1/23/25

From last week,

It held 38.2% at 989.00 and a sharp rally did follow up to 1064.00, however the last 3 days of trading took it back down to 38.2% back to the 12/19/24 low at 1019.00 and this will be the key level for next week. Provided this level holds it can send it right back to the recent high and more. A failure to hold this level can send it to 78.6% of the same move.

Use 1019.00 as the swing point for the week.

 Above it, the long term target area is the 1086.50 major Gann square and 38.2% back to the contract high at 1095.00. The short term target is 78.6% back to the 1/14/25 high at 1055.00, as always failing to make a new high in the area of 78.6% retracement can cause a sharp selloff.

The low this week held 38.2% of the current rally at 1019.00, this not only kept the short term trend positive, but sent it to new highs as is expected when holding a 38.2% retracement (ONE44 78.6% rule). It also hit the short term target of 1055.00 and since it went on to a new high it took away the idea of a sharp break happening on a failure to make the new high in the area of a 78.6% retracement. With the market approaching the long term swing point at 1095.00 we will move this week's swing point up as tight as possible and use 23.6% back to the 12/19/24 low at 1045.00.

Use 1045.00 as the swing point for the week.

Above it, the key area above is the 1086.50 major Gann square and 38.2% back to the contract high at 1095.00. This is an area that can send this market back to test the lows, however we will watch every retracement on any setback to see just how weak, or strong the market is. Above 1095.00 turns the long term trend positive and we will look for 61.8% of the same move at 1088.25, this is also a major Gann square.

Below it, the long term target area is the 981.00 major Gann square and 78.6% back to the 12/19/24 low at 975.00. The short term target is 38.2% of the same move at 1027.00, holding this level keeps the short term trend positive and new highs can quickly follow.

ONE44 Analytics where the analysis is concise and to the point

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.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

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