One commodity bucking the trends: Soybeans

Soybean futures took out resistance amid a positive seasonal profile

From the NFTRH trade log on December 23.

The combination of positive seasonal conditions for Soybeans and the constructive daily chart were noted several weeks earlier in NFTRH before I finally added it as a spec.

Here is the daily chart of Soybean futures. Since the trade log note above it has taken out resistance, turned it to support and also taken out the SMA 200. Not bad work so far. One wonders about the massive gap up near 1700.

soybean futures

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