Soybeans:
Nothing much changed on this chart and price keeps trading sideways within the boundaries of its expanded flat. We expect price to continue its down move from here and expect it to break its recent lows of the 940/935 zone finally during the coming week. If and after this happen the road to the (roughly) 915 level if free to trade to for price where we see the lows of April. The 'pit' that was formed during March this year at the 890/870 level then becomes a solid supportive level where a bottom could be found but we will have to see if and when that really happens. For now we keep our bear bias and our 885/875 as first target.
Nothing much changed on this chart and price keeps trading sideways within the boundaries of its expanded flat. We expect price to continue its down move from here and expect it to break its recent lows of the 940/935 zone finally during the coming week. If and after this happen the road to the (roughly) 915 level if free to trade to for price where we see the lows of April. The 'pit' that was formed during March this year at the 890/870 level then becomes a solid supportive level where a bottom could be found but we will have to see if and when that really happens. For now we keep our bear bias and our 885/875 as first target.