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CBoT soybeans

CBoT soybeans

SOYBEAN FUTURES - ECBT CBOT:ZSX2016

Soybeans:
Price has been moving sideways for most of the week but made an impulsive move up of 2% during Friday's session which makes us believe that a bit more upside is in the cards for the coming week after which we still anticipate price to reverse and resume its downtrend. A decisive close above the 1025 level will bring price to our critical resistance level of 1065 after which we will have to start reconsidering our bear bias. For now we still anticipate price to trade to 900 and possibly lower.