ZS1! (Soybean Futures) – Daily – 9/17/26Soybean FuturesCBOT:ZS1!DrDeltaTradesZS1! (Soybean Futures) – Daily – 9/17/26 Setup: Short entered @ 1319, SL @ 1364 (risk ~45c) Thesis: Momentum fade within an otherwise intact uptrend — this is a counter-trend/exhaustion trade. Bullish structure still intact (the risk to this short): - Ascending channel since ~Apr/May '26, price stalled near upper 1/8 of channel (~13.20-13.31 high) - ADX 37.3 with +DI 26.9 > -DI 10.1 → primary trend is still strong and bullish by this measure — this is the main thing that could stop the short out Bearish momentum signals supporting the short: - MFI bearish divergence — price made a higher high into Sept, MFI made a lower high - Vol(20) 133.76K running below its own avg 146.9K → the recent push to highs came on weak participation - MACD crossed below signal line, histogram flipped negative - CC(SPX,20) = -0.18 — soy is not being driven by equity correlation right now, this is an independent ag-fundamentals move (tariff/China demand driven) Key level: 1290-1300 support/resistance zone. A clean break below turns this from "overbought pullback" into confirmation of trend change; a hold/bounce there keeps this inside the channel as a shallow correction only. Plan: SL 1364 caps risk if the bullish trend reasserts and breaks the recent high. Watching 1290-1300 as the first real test of the bearish thesis. Not financial advice — my own trade journal notes.