Market Overview

Technical Forecast for Soybeans

Technical Forecast for Soybeans


Soybeans continued higher to hit our target of 1396 & topped almost exactly here at 1398. We are getting very overbought but a break higher cannot be ruled out and could target September’s high at 1409. There is a risk of a high for the day here today but above 1411 we could target 1419.


Immediate support is 1371/70 but below here look for 1354. A break below yesterday’s low at 1348 risks a slide as far as the gap at 1332.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas


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