Soybean prices have been chopping back and forth in a range that was established over a 2-day period back around the 1st of March.
This week prices worked towards the upper end of that range, but we are still range bound and anything within this area is likely fair game heading into the USDA acreage and stocks report next week.
Technical indicators were stuck dead center in the middle of a neutral area until prices rallied earlier this week pushing technical up and now following a couple days of disappointing trade the technical has leveled off again.
No clear direction at this time from the charts or the technical in the short run, although the longer-term trend is still pointed upward.