Soybeans recovery from the downside target of 969/968 & unexpectedly beat last week's high at 1001/1002. We are now challenging the upper resistance
Soybeans CME November contract Daily Forecast - 28 October 2014Soybeans recovery from the downside target of 969/968 & unexpectedly beat last week’s high at 1001/1002. We are now challenging the upper resistance of a 3 week channel at 1009/11. A good chance of a high for the day here but shorts need stops above 1014. Be ready to go with a break higher to target 1019/20.
Failure to beat 1009/11 should trigger a move lower towards support at 993/992. If we continue lower good support at 984/982 should hold the downside. However longs need stops below 979.
FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.
