MNI: PBOC Net Injects CNY184.8 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1136 Tues; +3.19% Y/Y

CHINA PBOC CONDUCTS CNY9186 BLN VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1136 TUES VS 7.0989

MNI BRIEF: Mexico Inflation Falls To 4.99% In August

MNI BRIEF: China Aug CPI Rises To Half-year High At 0.6% Y/y

MNI: US JUL CONSUMER CREDIT +$25.5B

EZ/UK Bond Supply Calendar: EU, IT Syndis; NE, UK, DE Due Tuesday

MNI:US JUL WHOLESALE INV 0.2%; SALES 1.1%

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(N2) Monitoring The Range Top

SOY TECHS
  • RES 4: $1809.25 - 1.00 proj of the Jan 18 - Feb 10 - 15 price swing
  • RES 3: $1800.00 - Round number resistance
  • RES 2: $1789.00 - High Sep 2012 (cont)
  • RES 1: $1741.00/49.25 - High Feb 24 and a bull trigger / High May 31
  • PRICE: $1711.00 @ 13:00 BST Jun 6
  • SUP 1: $1665.50/1578.00 - Low May 25 / Low May 9
  • SUP 2: $1560.50 - Low Apr 4 and key support
  • SUP 3: $1525.50 - Low Feb 2
  • SUP 4: $1477.00 - Low Jan 31

Soybean futures are consolidating and remain inside the broad range. The contract has recently briefly tested levels above the top of its range. Key resistance remains the $1741.00 area - the range top and the Feb 24 high. The trend outlook is bullish and a clear break of $1741.00 would confirm a range breakout and a resumption of the uptrend. This would open $1800.00. Weakness below $1560.50, Apr 4 low, would instead highlight a reversal.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.