MARKETS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Fri Nov 1, 2013 06:59 AM CDT

Given the lack of bullish enthusiasm in the soybean market the last month and a half it is understandable if we've forgotten that the last major (long-term) signal was bullish. Going back to August, the more active November contract posted a bullish key reversal, moving to a new low early in the month before skyrocketing and closing well above the July high. The August peak of $14.09 1/2 followed by a September top of $14.08 1/2 proved to be a test of resistance near $13.71, with both months falling back below this price at the close of the month.

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