January soybean futures a buying opportunity on fresh price strength.
See on the daily bar chart for January soybean futures that prices have rebounded from the October low. A bullish double-bottom reversal pattern may also be forming. A move above solid chart resistance at $13.00 would provide the bulls with fresh upside momentum and it would also become a buying opportunity. The upside price objective would be $14.00, or above. Technical support, for which to place a protective sell stop just below, is located at the October low of $12.61 1/4. Remember that the “mini” grain futures contracts are a liquid and viable way to trade the grain markets.
