The commodities are showing signs of reversal. In today’s update, I show two that I particularly like: Soybeans and Corn. Both are giving me indications that they are breaking out of consolidation with volume strength.
From the charts
The daily Soybean futures contract @S (SN20) has broken it’s consolidation range, giving us a confirmed trend, volume, and momentum bullish indication. Buying pressure is strong as shown by the rising Hawkeye Volume green bars. In addition, this breakout is supported by longerterm volume on our 2nd timeframe. All we need is for this week to close out with a weekly volume bar green, and we have a full buy signal.
You can look at the Corn futures contract @C (CN20) the same way. Hawkeye shows a green trend, volume and momentum, along with green buying on the longerterm volume. All we need is a weekly green volume bar for final buy confirmation.
The Hawkeye Perspective
All of these signals are clearly shown on our charts by the Hawkeye indicators. But the BEST part of this was that we saw it coming on April 21st… over a month ago! Volume leads price, and understanding how to trade with volume and price is the EDGE. Learn to trade the Hawkeye way.