January Soybeans - Daily

January Soybeans - Daily: The January contract shows a different picture than the continuous. Jan beans did break above the trend line and 24% retracement, but fell short of the 38% target. The cloud resistance stopped beans at 12.89. The move below the trend line is concerning. There is a Harmonic Pattern potential for a reversal at 11.93-11.81. We need a couple of daily closes above the trend line and the red kijun line currently at 12.30 to keep this from continuing bearish. A break out above the trend line, the cloud, and 24% retracement could excite the bulls for strong gains. **Again this is volatile, Use options to help make decisions if needed…