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(X2) Range Base Cleared

SOY TECHS
Commodities TechEM Bulletmarkets-real-timeFixed IncomeCommoditiesBulletMarketsEmerging MarketsForeign Exchange
  • RES 4: $1584.75 - High Jun 9 and the bull trigger
  • RES 3: $1556.75 - High Jun 17
  • RES 2: $1507.75 - High Jun 30
  • RES 1: $1399.25 - Low Jun 24 and recent breakout level
  • PRICE: $1347.00 @ 14:52 BST Jul 5
  • SUP 1: $1325.50 - Low Jan 27
  • SUP 2: $1300.00 - Psychological round number
  • SUP 3: $1276.00 - Low Jan 18
  • SUP 4: $1262.75 - Low Dec 30 2021

Soybean futures have cleared the key support area highlighted by; $1403.00, Feb 25 low, $1394.00, Apr 1 low and $1399.25, Jul 1 low. These lows marked the base of a range that started in February. The break through the base strengthens bearish conditions and sets the scene for weakness towards the 1300.00 handle. On the upside, key resistance has been defined at $1507.75, the Jun 30 high. Initial resistance is seen at $1399.25.

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  • RES 4: $1584.75 - High Jun 9 and the bull trigger
  • RES 3: $1556.75 - High Jun 17
  • RES 2: $1507.75 - High Jun 30
  • RES 1: $1399.25 - Low Jun 24 and recent breakout level
  • PRICE: $1347.00 @ 14:52 BST Jul 5
  • SUP 1: $1325.50 - Low Jan 27
  • SUP 2: $1300.00 - Psychological round number
  • SUP 3: $1276.00 - Low Jan 18
  • SUP 4: $1262.75 - Low Dec 30 2021

Soybean futures have cleared the key support area highlighted by; $1403.00, Feb 25 low, $1394.00, Apr 1 low and $1399.25, Jul 1 low. These lows marked the base of a range that started in February. The break through the base strengthens bearish conditions and sets the scene for weakness towards the 1300.00 handle. On the upside, key resistance has been defined at $1507.75, the Jun 30 high. Initial resistance is seen at $1399.25.