MARKETS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Tue Jan 7, 2014 02:09 PM CST

Which came first, the chicken or the egg? Or in the case of the March soybean contract, the bullish crossover by its daily stochastics or a bullish technical signal on its daily chart? A look at said daily chart shows the answer to be daily stochastics.

Not to say that it wasn't close, with the contract coming within fractions of establishing a bullish outside day. After trading below Monday's low of $12.69 1/4 March soybeans rallied above Monday's high of $12.82 1/4, posting a high of $12.83 Tuesday. All that was needed was a higher daily close to complete the ...

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