Soybeans (ZS futures and SOYB) approach channel resistance

DEC03 1159EST. Soybean futures (ZS) and their corresponding exchange traded fund, the Teucrium Soybean Fund ETF (SOYB), are approaching resistance from well-defined three-month price channels, shown below in dashed red for both securities.

ZS. Aug 31, 2012 to present. Hourly candles.

SOYB. Aug 13, 2012 to present. Hourly candles.

NB: Ad Astra Hoya identified the November 16th low in both ZS futures and the SOYB ETF using these same price channels.