CBOT soybean signals mixed
SOYB•Signals are mixed for the CBOT soybean November contract, with a rise from $12.97-1/2 per bushel difficult to classify. A move outside the $12.97-1/2 to $13.22-3/4 range could suggest a direction.
1. Mixed technical signals
The rise in the November soybean contract could be an extended pullback toward a wedge that looks like a top pattern, or a continuation of the uptrend from $11.65-1/4. An escape from the $12.97-1/2 to $13.22-3/4 range would suggest a direction; the bias might be toward the downside following completion of a five-wave cycle from $11.65-1/4.
