Moving averages hint at lower values

In the November soybean chart below take note of the pattern evolving from the various moving averages followed. The faster 20 day moving average line completed its bearish move below all the other moving averages followed four trading sessions ago. The 50 day moving average line is poised to do the same on continued weakness. None of these signals are friendly and continues to support a bearish stance in the short-term.

A look at both December corn and December wheat show the bearishness in those contracts as the 20 and 50 day moving averages turned below the longer-term moving averages long ago and are displaying no tendency to improve.