We got a nice gap and run today. Notice the bottom wick of today's candle did not fill the opening gap. It started to but not fully. This is both good news and bad news.
The good news is the bullish sentiment is so strong that price action couldn't even fill the little gap before the Bulls started piling in so hot and heavy it drove price up too hard to come back down.
The bad news is gaps tend to get filled in. So if not today, it'll most likely be some other day. If that other day is before we hit our target, it will be a set back.
We opened right on the 50sma and closed significantly above it, and above all our other Moving Averages, except for the 200sma. This is bullish.
Stochastics show we're still not overbought. Also, the Bollinger Bands (BB) are still inside the Keltner Channel (KC). If we continue up and get a candle close with the BB outside the KC that is a BB/KC breakout and usually good for 5-7 more candles in the same direction.
Things are looking good in the Soybean department.
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