Soybeans:
Price reached the lower boundary of the ascending price channel and bounced up from there during Friday's session. The candle was a Bullish Engulfing candle which usually is a very reliable reversal pattern. From here we favor a move up during the coming 5 to 10 sessions to the upper boundary of the ascending channel which will offer a short play opportunity. Nothing to be done for now except waiting.
Price reached the lower boundary of the ascending price channel and bounced up from there during Friday's session. The candle was a Bullish Engulfing candle which usually is a very reliable reversal pattern. From here we favor a move up during the coming 5 to 10 sessions to the upper boundary of the ascending channel which will offer a short play opportunity. Nothing to be done for now except waiting.