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Soybeans See Another Big Move Higher

Published 12/21/2015, 04:37 AM
Updated 07/09/2023, 06:31 AM
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Soybeans Weekly Chart

Soybeans first resistance at 892/893 is strong today and includes the 100 day moving average. A break above 896 is therefore positive and targets 898/899 then December highs at 970/910. A break above here would be a buy signal to target 916.

Failure to beat important resistance at 892/893 as we become overbought short term targets first support at 885/884. If we continue lower good support at 879/878 could hold the downside. However a break below 874 risks a slide to minor support at 870/869.

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