Remko

Soybeans CBoT waiting for a short play opportunity

CBOT:ZSX2016   SOYBEAN FUTURES
17 0 2
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.
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