Soybeans: Break Higher Possible Today
Jason Sen | Nov 26, 2014 07:31AM ET
Soybeans immediate resistance at 1054/55 again today of course. A break higher is certainly possible today and is more positive for the outlook. We should then target 1059/60 and perhaps as far as 1072/73 this week.
Immediate support at 1046/45 could hold the downside and it is worth trying longs here with a stop below 1040. A break lower however targets 1036/1035 to try longs again with a stop below 1032. Just be aware that an unexpected break lower from here risks a slide to excellent support at 1024 for a buying opportunity.
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