January Soybean Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for January soybeans that prices have backed well down from the recent high, including negating a near-term price uptrend. A move in prices below major psychological support at $10.00 would give the bears better downside momentum and it would also become a selling opportunity. The downside price objective would be $9.20 or below. Technical resistance, for which to place a protective buy stop just above, is located at $10.40. Remember that the “mini” grain futures contracts are a liquid and viable way to trade the grain markets.
