Swing Long: Double Bottom + Higher Low + Up-Trending Channel

١٣ يونيو

Technical factors:

• Double bottom formed with a higher Low on the second retracement, which was also accompanied by volume accumulation.
  
• Long-term upward trend (view weekly chart).
  
• Up-trending channel in the medium-term.
  
• Well-defined risk.
  
• Low-volume node (LVN) that provides for an early/aggressive breakout entry (likely today).
  

Fundamental Factors:

• WASDE yield estimates for beans this season are running high by more than two bushels per acre.