Market Overview

Technical Forecast for Soybeans

Technical Forecast for Soybeans


Soybeans bounced towards 1366 but only made it to 1363. Resistance at 1361/63 today but above here may test resistance at 1379/82 for profit taking on any longs. This could hold the topside but if we continue higher look for a retest of this August highs at 1409.


Good support at 1346 but the daily chart is more negative & so a break lower cannot be ruled out and could target the gap at 1331. We could see a low for the day here but if we continue lower look for a second buying opportunity at 1317/15 & a good bounce from here expected.

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Posted-In: Technicals Commodities Markets Trading Ideas


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