November soybean futures are presenting a buying opportunity as prices have rallied from the August low, hitting a six-week high. The moving average convergence divergence (MACD) indicator is bullish, with the blue line above the red line. The market received a friendly USDA report and traders are factoring in a bumper U.S. soybean crop. A move above chart resistance at $10.49 1/4 would be a buying opportunity, with an upside price objective of $11.25. Technical support is at $10.20. Trading futures is volatile and risky, so consider your financial situation before investing. Jim Wyckoff does not hold positions in mentioned securities.

Read more at Yahoo Finance: Soybeans Are Heating Up. Here’s What Could Take Them Much Higher.