On the Daily chart above you can see we continued further downward but prices reversed and closed slightly higher than the open, forming a Doji candle. A Doji represents indecision.
Considering we closed under the 8ema and Stochastics are heading down, and all the original bearish indications described on the previous post, we held our bearish position.
Also, Nov Soybeans closed down for the day, forming a lower high and lower low compared to yesterday, and Dec Corn formed a tiny Doji right at yesterday's close.
Although Wheat's price action did not do a good job of confirming the Bearish indications, the decision to stay short was clear enough.
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