During the US sessions, we will take a moment and take a glance at some commodities. The first one is Soybeans. As we can see on the chart, soybeans are trading nicely lower for some time now and we believe even more weakness will show up in a couple of weeks. Looking at the chart, we could now be trading in black sub-wave 3 of three, that may be in final stages. If we are correct, then more weakness may show up from current levels as minor sub-wave iv seems completed.
We see 1002 region in view, before a three wave contra-trend move into wave 4 takes place.
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