Soybeans (ZS) Bottoming on Weekly Chart

ZS has found major support at around the 900 level, as seen by the weekly RSI, Stochastics and MACD all turning up from oversold levels. The 900 round figure coincides with major bottoms in 2009 and 2010, along with near bottoming activity in late 2008. ZS appears to want to target roughly 1000 in the near-term where downchannel resistance can be expected to hold initially. Feel free to visit stks.co/j1A6G for today's technical analysis on $ZS_F, $ZW_F, $CT_F, $ZC_F, $NG_F, $SI_F, EURUSD, GBPUSD, USDX, BUXL, $KC_F, $NFLX.

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