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Friday, which is one chart clue that a market bottom is in place. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator has just produced a bullish line crossover signal, whereby the red MACD line has crossed above the blue trigger line and both lines are trending up.What is Watson Watching in the Grains Sector this Week?Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else.Fundamentally, it appears all the bearish news in the soybean market — namely good growing weather in the U.S. and world trade uncertainty — has been factored into futures prices. Chart price history shows that soybean meal prices under $300 a ton are a value-buying opportunity.A move in December soybean meal futures above chart resistance at $290.00 would give the bulls more power and it would also become a buying opportunity. The upside price objective would be $310.00, or above. Technical support, for which to place a protective sell stop just below, is located at $280.00.www.barchart.comIMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%):Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you. On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,309.62 +4.02 (+0.06%)Dow 3044,502.44 +179.37 (+0.40%)Nasdaq20,892.69 -81.49 (-0.39%)Russell 20002,248.76 +17.63 (+0.79%)VIX16.50 -0.15 (-0.90%)Gold3,442.30 -1.40 (-0.04%)PortfolioSign in to access your portfolioSign inTop gainersMEDP Medpace Holdings, Inc. 477.73 +168.85 (+54.67%)IQV IQVIA Holdings Inc. 187.38 +28.42 (+17.88%)DHI D.R. 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