November Soybeans

Watch the low made on Monday in November soybeans ($10.21). That is the key two-day low.  A close below that low on Tuesday or Wednesday will signal a short-term top. I watch a 10-day low-to-low pattern, and this is a key “red week”. In recent red weeks (two, four, and six weeks ago), soybean prices have bottomed on Monday or Tuesday.

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