Soybeans May powered higher as expected to the 1459/60 target and topped exactly here. This is immediate resistance today and being overbought short term we should struggle here again. Watch for another high for the day. However a break higher cannot be ruled out and could target in this 5 week bull trend with little to stop a test of long term Fibonacci resistance at 1480/85.
Immediate support on any profit taking is 1441/40 then 1430/29 and a good chance of a low for the day. However if we continue lower look for support at 1419/18, and then a buying opportunity at 1412/11 with a bounce from here expected this week.