Remko
Long

CBoT Soybeans long play opportunity with a tight stop

CBOT:ZSX2016   SOYBEAN FUTURES - ECBT
35 0 2
Soybeans:
Price made a strong move to the downside of some 2.5% after which it revered leaving a relatively long bottom tail for the daily candle. Price reached our target a bit earlier than we would have expected which is not a problem as such but the structure of the latest move is a problem.
Thus far we stick too our earlier casus in which we see price make a 20/30% swing up from here but we want to see the price reversal already during Monday/Tuesday failing which we will probably have to reconsider our bull ride bias. A long play opportunity is there at the opening but with tight stop.
Trade closed: stop reached
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