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Friday 30 Oct 2020
FWP Network > Forexhound.com > Analysis > Commodities Analysis > Grains > Technical forecast for Soybeans
Technical forecast for Soybeans
Grains · analysis, binary option, buy sell, candlestick, charts, day trade, day trading, down trend, fibonacci, forecast
Soybeans for November jumping around but not covering any new ground for the past week. However we did beat 1280/81 resistance & with today’s outlook quite positive we could reach for a retest of July highs at 1297/98. We should struggle here & it may be worth exiting longs & trying shorts with stops above 1302.
Look for good support at today at 1282/80 with the 200 day moving average here. A low for the day likely but longs need stops below 1277 as a break lower risks a slide to 1271/69.