The recent 5-day decline in Soybeans came to a halt when the market reached the downward sloping median line, on the August 9th reversal date.  The market tested the median support before closing above the line Tuesday,  The gap higher opening on Wednesday is a strong beginning for the “trail day” and will confirm a bullish reversal pattern if the market trades above $13.23.  The current price action is positive making Soybeans a market to watch today.

November Soybeans - click to enlarge

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