November Soybeans dipped into the 60% buy zone for the second time in as many days. Just like the previous day, Soybeans reversed and traded higher, moving out of the buy zone. Since today’s price action did occur on the projected reversal date, it may be significant because it occurred one day before Wednesday’s Grain Stocks and Planted Acreage reports.
The market has formed a potentially bullish TR swing pattern bottom that could foreshadow a trend shift and mark the beginning of a rally in the Soybeans. If Wednesday’s report does confirm the price action I will have the new time ans price projections in the TMV Swing Trade Report.