Soybean Meal JANUARY 2021 – breach of a trending resistance line that has been tested at least twice before.

Soybean Meal JANUARY 2021 has broken through the resistance line of a Ascending Triangle technical chart pattern. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before trading. It has touched this line twice in the last 15 days and suggests a target line to be around 404.0535 within the next 3 days.