Technical Forecast for Soybeans
Soybeans for November resistance at 1270/71 did hold the topside as predicted to test the 100 day moving average at 1256/55. The short term outlook is quite negative so any longs here need stops below 1251. A break lower then risks a slide to 1242/40.
Immediate resistance at 1261/62 but above here we could reach 1269/70. Look for a high for the day here but shorts need stops above 1272 for a test of the 200 day moving average at 1280/81 & a selling opportunity.
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