March Soybean Futures a Buying Opportunity on More Price Strength
See on the daily bar chart for March soybean futures that prices have seen choppy and sideways price action recently, but the bulls are showing resilience in the face of bearish “outside market” forces. The soybean bulls would gain fresh upside technical momentum to suggest a price uptrend can be re-established if prices push above resistance at last week’s high of $10.66 3/4. That would also become a buying opportunity. The upside price objective would be $11.50 or above. Technical support, for which to place a protective sell stop just below, is located at last week’s low of $10.32 1/2. Remember that the “mini” grain futures contracts are a liquid and viable way to trade the grain markets.
