NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Tue Feb 11, 2014 03:13 PM CST

At first glance, soybean market bulls like the look of the March contract's daily chart. Tuesday saw the contract test Monday's pre-report high of $13.40, closing near its session high of $13.37 1/2. But a closer inspection shows possible short-term warning signs.

First, going back to Monday's session, March soybeans posted a bearish reversal. After posting its new high ($13.40), the contract took out last Friday's low of $13.20 before closing lower for the day. Tuesday's rally saw the contract struggle against the previous high, opening the door for increased noncommercial during the overnight session.

Lastly, daily stochastics are above ...

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