NFTRH+; low risk vs. potential reward in this Agri commodity

I added Soybean fund, SOYB today for the following reasons.

  1. Unlike some Teucrium Agricultural funds, SOYB tracks Soybean futures well.
  2. The daily chart has been in a long downward consolidation, from which it is breaking.
  3. The seasonal aspect looks good.
  4. The sentiment aspect looks good.

Here is the ETF, having jumped above the 50 day moving average, which can also act as a caution/tolerance  point. RSI looks good and MACD is triggered up and trying for positive territory.

As for the seasonal average, Soybeans appear set up well for the remainder of 2021 and the first half of 2022.

As for sentiment, commercial hedgers are not standing in the way of further rally activity.

And better still, public optimism does not exist in Soybeans.

All of which is to say that while no speculation is fool proof, this one has positives working for it from several different angles.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.