3 min read Grains special update

Soybean and Livestock Special Update 11/7/23

Soybean and Livestock Special Update 11/7/23
Photo by James Baltz / Unsplash

Soybeans
November completed the 61.8% to 61.8% retracement following the ONE44 61.8% rule. This was 1248.50 to 1365.00.


We are adding in the March contract analysis now.

January
From last week,

Use 1335.50 as the swing point for the week.
Above it, the long term target area is the 1401.50 major Gann square and 78.6% back to the 7/24/23 high at 1405.00. The short term target is 61.8% of the same move at 1377.00.

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