Lower daily close for soybeans

Soybeans closed at a new lower daily close today (Dec 3 2007), but just barely. More significantly, perhaps, is that prices spent the entire day below the previous day's close, only rising to nearly reach Friday's closing price just in the closing minutes of today's trading session. Not only that, but soybean prices also reached a new low price (for the day) that was lower than the past few days. Prices haven't been this low since Nov. 20th. Note also that prices are getting quite close to a crossover of the Bollinger Moving Average (a 20-period Simple Moving Average).

Note in the 2nd subgraph that selling activity continues, as soybeans are being distributed. This Klinger+ATR indicator is a wonderful leading indicator for when big money is selling, even before prices themselves reverse.

I included the other subgraphs in this picture because I wanted to show that the Hull Moving Average (2nd subgraph, blue and magenta) has turned negative.

In the third subgraph, note that the Bollinger Squeeze indicator has turned from bright green to dark green, indicating a loss of volatility and momentum. Likewise, the Gaussian indicator (green and red in the same 3rd subgraph) has also turned down.

In the bottom subgraph, the MACD has also turned down! This is all in the daily chart. This is rather strong signaling of more bearish soybean activity to follow.

However:
The weekly chart is still bullish, although the Bollinger Squeeze indicator has just turned from bright green to dark green. I have not posted the weekly chart.