Soybeans: First Resistance At 863/864
Jason Sen | Jan 06, 2016 06:36AM ET
Soybeans first resistance at 863/864 but above here meets stronger resistance at 866/867 and the main challenge for bulls today. Shorts need stops above 869. If we continue higher, look for the next target and a selling opportunity at 875/876. Shorts need stops above 878.
December lows at 854/853 are obviously the most important support of the day, but failure here risks a slide to 850/849 then November lows for the March contract at 847. Below here meets further important support at 844.25, being the November low for the continuation contract.
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