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Reversal date triggers sell in Soybeans

9/31/09 - 9:45 am MST - November Soybeans are trading sharply lower after reversing at the upper downward sloping reaction line on Monday's reversal date. Soybeans traded above Friday's high 0f $10.17 1/2 before the reversal kicked in, causing the market to collapse and trade below Friday's low. An "outside day",on a projected swing trade date (reversal date) is a reversal confirmation and sell signal.  The reverse/forward count projects the next reversal date due on Sept 9 with a downside target objective of $8.50. Currently November Soybeans are trading 22-cents lower on the day.

November Soybeans

November Soybeans

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