Special November Soybean Update & Adding January

November

From last update,

Every close for the week was below the 1297.75 major Gann square/Swing point for the week and it made a slightly lower low on the selloff from the 9/11/26 high, this will lower the 78.6% level above. We will again use the 1297.75 major Gann square as the swing point for the week. When and if it hits the 1260.50 major Gann square we will then use 38.2% back to the contract high as the swing point (yet to be determined).

Use 1297.75 as the swing point for the week again.

 Below it, the short term target is 23.6% back to the contract low at 1253.00. The longer term....

The break from the 1297.75 major Gann square/Swing point for the week has now hit the short term target of 23.6% back to the contract low at 1253.00 and this will now be the swing point for the week. Holding this area keeps the long term trend very strong and a new contract high possible. On a failure to hold this level we will look for the long term swing point of 38.2% of the same move at 1198.00.

Use 1253.00 as the swing point for the week.

Above it, the short term target is 78.6% back to the 9/11/26 high at 1318.00. The long term target is a new high and 61.8% on the continuation chart at 1347.00. Any rally that can't get above 38.2% at 1283.00 is not a good sign and a new low can quickly follow.

Below it, the short term target is the 1226.00 major Gann square. The long term target is 38.2% back to the contract low at 1198.00. A failure to hold this area turns the long term trend negative and we then give new downside targets when and if this happens.