Soybeans Breaks Below 1170/69 To Target Strong Support
Jason Sen | Jun 14, 2016 12:45AM ET
Soybeans has broken below 1170/69 to target strong support at 1156/54. A bounce from here is possible on the first test but longs are still quite risky. Be ready to sell a break below 1152 therefore to target minor support at 1146/45 then an excellent buying opportunity at 1127/25. Longs need stops below 1121.
Holding first support at 1155/53 allows a recovery to first resistance at 1167/69. We should struggle here and a high for the day certainly possible. Try shorts with stops above 1171. A break higher however is more positive and targets 1185.
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