The Soybeans pattern shows a double bottom on the weekly charts and will put in an outside reversal week to the upside with a close over 13.52 PIT close, however the big challenge is to close over the closes of the past 2 qtr’s which are 13.936 and 14.102. This level remains serious resistance! Given this pattern we will be locking some more of our long JJG trade in on the opening.

The Brazilian Real tends to mirror the commodity trade. A close under 160.30 USD/BRL (stronger REAL) Friday puts in a weekly outside reversal pattern which portends more commodity strength and RISK ON in general.