Technical Forecast for Soybeans
Soybeans for November jumping around but not covering any new ground for the past week. However we did beat 1280/81 resistance & with today’s outlook quite positive we could reach for a retest of July highs at 1297/98. We should struggle here & it may be worth exiting longs & trying shorts with stops above 1302.
Look for good support at today at 1282/80 with the 200 day moving average here. A low for the day likely but longs need stops below 1277 as a break lower risks a slide to 1271/69.
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