I like the current formation in Beans (January) and might even consider treating the obvious support and resistance like a channel and trade it either way. 552 is the number to overcome to the upside after which it looks like 572 will the number to deal with. Hopefully nothing too big will happen tomorrow (Friday) so I can take another look at this market for next week.

If prices break current support at 540 however, it looks to me like 530-ish could be a possible landing spot before prices are seriously tested again.

Favouring the upside...but just slightly. There...I said it. And now that I have that should be enough to make bean prices come down. ;-)

Erich
http://www.tradershelpingtraders.net
http://www.supportandresistance.com