Soybean market
Soybean – Weekly Cont: Price accelerated from the 50% retracement and resistance level at 14.24 up past the cloud and quickly filled the next primary target at 16.12. Last spring beans spent a few weeks above 15.75, but with light volume.
No telling if beans will chop around into a consolidation pattern to give us time to better guess a direction, or if it launches higher filling the targets above…
The candlestick formation left behind this week looks similar to the one left behind last year at the high. I am cautious for the next week or two and would be willing to look at short term protection
No telling if beans will chop around into a consolidation pattern to give us time to better guess a direction, or if it launches higher filling the targets above…
The candlestick formation left behind this week looks similar to the one left behind last year at the high. I am cautious for the next week or two and would be willing to look at short term protection
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