ZM Long — $ZMN26 breaking to new highs on strong volume with ag Soybean Meal FuturesCBOT:ZM1!mnktrdSetup: On the 4h chart ZM has been building a series of higher lows since the late-April trough near 315, with each recovery wave making a higher swing high — 328 in mid-April, 331 in late April, and now clearing the 332-333 resistance shelf that capped the prior April rally. The most recent 1h bar (07:00, May 13) is a strong expansion candle from 330.7 to 335.2 on volume of 9,336 — the largest bar of the entire LTF sequence — closing near its high, a textbook momentum breakout candle. Price is now at the highest level on the chart. Flow: Symbol context confirms ZM +1.49% with elevated volume flagged as an outsized move vs the 20-day, suggesting real positioning behind this move rather than a thin gap. Broader ag complex strength is a constructive tailwind. COT shows large specs net long +134,714 with small specs also net long — speculative positioning is supportive of the trend, though the WoW decline in non-commercial longs (-6,229) is a mild caution against chasing at the highs. The market context notes commodities including ZM are among the leaders in today's tape, consistent with the breakout. Plan: Stop is placed below the breakout candle's base and the prior consolidation shelf around 330.5 — a close back below that level would negate the breakout and suggest the move was a false spike. The target projects to the next measured resistance zone near the April highs plus the breakout extension, around 340. TTL is short given price is already at entry — if the market doesn't accept 333.5 quickly, the setup is stale. 📍 Entry: 333.5 🛑 Stop: 330.5 🎯 Target: 340.0 ⚖️ R:R: 2.17