Soybeans unable to push through 1000/01 & collapsed through 987/986 to the target of 969/968. If we continue lower look for a short term buying
Soybeans CME November contract Daily Forecast - 27 October 2014Soybeans unable to push through 1000/01 & collapsed through 987/986 to the target of 969/968. If we continue lower look for a short term buying opportunity at 964/963, with stops below 960. Be ready to go with a break lower then to target 951/950 for a buying opportunity with stops below 947.
Immediate resistance at 975/976 but above here is less negative for today at least & targets 985/986. If we can continue higher look for 992/992. Exit longs & try shorts up to last week’s high at 1001/1002. It does appear the recovery is over & the bear trend is expected to resume this week.
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