Soybeans:
Price has basically been bouncing between, roughly, the 980 level and 940 during the past 2 to 3 weeks keeps making impulsive moves after which a reverse occurs. Same happened again during the past week and especially the past 2 sessions showed a rather impulse to the upside which makes us believe that higher value is in the cards for this chart during the coming week. We still maintain our bear bias for price to break the 900 level downward comfortably but price apparently follows a route that takes longer than what we initially anticipated and which makes us push our timed target forward.
Price has basically been bouncing between, roughly, the 980 level and 940 during the past 2 to 3 weeks keeps making impulsive moves after which a reverse occurs. Same happened again during the past week and especially the past 2 sessions showed a rather impulse to the upside which makes us believe that higher value is in the cards for this chart during the coming week. We still maintain our bear bias for price to break the 900 level downward comfortably but price apparently follows a route that takes longer than what we initially anticipated and which makes us push our timed target forward.
