Action Reaction Course 55

Soybeans are making a P5 of the DT that began 11-1.

Note that the 9-4 Schiff ML 10-5 called the P3 reversal on Nov 28 and is basically containing the downside of price action so far. The 11-12 ML 11-28/12-3 probably will call the P5 in the 600 area.

If this probable market action occurs than this should be the start of a new up trend. Also note that the MLH of the 11-12 ML has been the overhead resistance to prices so far, that is the sliding MLH.