We are moving out of the August contract for the Soybean complex. This is a review of what has happened from an educational perspective. You will also see the analysis that our Premium Members receive.
Quick update on the Soybeans
From this week's update,
One scenario to watch for on a new low in the Nov. is, it makes that new low, holds the 1282.00 major Gann square and then closes higher for the day. Making only a slightly lower low and getting right back above the long term swing point can produce a slingshot type move.
The low on Friday was 1288.50 and it closed at 1315.75. The $1.00 rally over the last two days definitely fits the description of a "slingshot" move. The key levels above remain the same, however we can add some below as well to see if the rally continues. This is what matters now....