Soybeans: Shorts Need Stops Above 948
Jason Sen | Jun 19, 2017 03:36AM ET
Soybeans strong bounce back to resistance at 940/941 again on Friday. Expect strong resistance at the 944/945 high if we reach this far. Shorts need stops above 948. A break higher however meets an excellent selling opportunity at 952/953 with a good chance of a high for the recovery. Try shorts with stops above 957.
Failure to beat resistance at 940/941 keeps us trading sideways to target 936/935 then support for the day at 931/930. Further losses retest the low this week set yesterday at 925.50. A break lower targets 923 and 919/918 before the 911/910 low.
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