May Soybeans Elliot Wave

Soybeans creating Elliot Wave. Upside target 1040. Initial target 1025 at R2.

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Soybeans to R2 at 1029'5. Looking for 1040.

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Still has running room, but bear doji may be signalling a correction RSI still showing possible upside. We may be in position 3 and 4. need confirmation Tuesday.

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Higher high on beans with a pull back from R3. R3 now becomes resistance at 1052'2. May try to hit R3 or turn back to R2 then R1 before completing Elliot Wave. Still see overall an upside to beans.

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R3 at 1052'2 still resistance on Beans. Still over 20 day MA. RSI is overbought, but if bulls can send this up above R3 we could see another little run.

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Meal slowing down and R3 becoming difficult to exceed. No significant change in direction yet.

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That should be beans no Meal

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Beams trying to find higher and higher range. No break in 20 day MA so this is still bullish until turn. Elliot Wave still plot.

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