Soybeans in the teens; how about the twenties?

Market Pulse: April 24

Last week July 2012 soybeans opened at 1438¾ and closed the week at 1449½. July soybeans open 2012 at 1251. On the daily chart, technicals show beans in a strong trend with ADX at 38; however, ADX is dropping. MACD is riding just below the signal line with little divergence, and Stochastics are hovering just below overbought territory. Keep in mind that the bean high was achieved on July 7 2008 at 1663. 

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