Soybeans CBoT stopped out and waiting for a long play set up now
Soybeans:
Price corrected up during the first half of the past week and still has to complete its move down a bit further to the 10/9.75 region where we expect price to reverse and make a move up of 20%. Traders who entertained the short play last week should have been stopped out and if not their stops were not tight enough so they are more rather lucky than smart.
We expect price to touch our targeted level during the coming week from where a long play can be entertained with an upswing potential of 20/25% in price.
Price corrected up during the first half of the past week and still has to complete its move down a bit further to the 10/9.75 region where we expect price to reverse and make a move up of 20%. Traders who entertained the short play last week should have been stopped out and if not their stops were not tight enough so they are more rather lucky than smart.
We expect price to touch our targeted level during the coming week from where a long play can be entertained with an upswing potential of 20/25% in price.