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Soybeans Recommendation
January 29, 2024
Trade Recommendation Results Graph
The Recommendation
MMA Weekly Report, Wyatt Fellows recommended, “Try the short side on any rally back to the 15-day moving average early this week. If filled exit 1/3 at 1185.00 +/- 5.00. Use a stop loss on a weekly close above 1260.00 for now.”
The Results
Soybeans rallied to 1223.00 on Wednesday, January 31 with the 15-day moving average coming in at 1222.00 on that day. Soybeans proceeded to fall for the next 4 weeks into a primary cycle low, reaching a price of 1128.50 on February 29 and 1115.00 in the March contract.