January Soybean Futures a Buying Opportunity on More Price Strength
See on the daily bar chart for January soybeans that prices are in a fledgling uptrend and have just hit a four-week high. The bulls have gained upside near-term technical momentum recently. A move above chart resistance at Wednesday’s high of $9.90 would give the bulls better upside momentum and it would also become a buying opportunity. The upside price objective would be $11.00, or above. Technical support, for which to place a protective sell stop just below, is located at $9.50. Remember that the mini grain futures contracts are a liquid and viable way to trade the grains.
