March Soybeans were up again today, but traded back. Possible pause before heading higher to complete the Cypher pattern. See 1030 as support and the 20 day moving average at 1025'4. Headwinds will come in at 1071'6 the last top.
Comment:
Soybeans Wednesday continued its climb towards the Cypher pattern C. One more push should see prices at the 1087 area. Since the USDA report this market may move into the extension, and possibly start forming a Butterfly that would take us back to highs seen in June 2016 which would be nearing the 141.4% and 161.8% Fib.
