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Why MNI
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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.
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Free AccessMNI: PBOC Net Drains CNY216 Bln via OMO Monday
(F1) Bullish Conditions Intact
- RES 4: $1176.50 - High Jul 1, 2016 (cont)
- RES 3: $1150.25 - High Jul 5, 2016 (cont)
- RES 2: $1143.50 - High Jul 14, 2016 (cont)
- RES 1: $1119.00 - Intraday high
- PRICE: $1115.50 @ 12:11 GMT Nov 10
- SUP 1: $1083.50 - Low Nov 5
- SUP 2: $1045.00 - Low Nov 2 and the near-term bear trigger
- SUP 3: $1038.25 - Low Oct 15
- SUP 4: $1034.25 - Low Oct 12 and key support
Soybean futures recovered last week off the Nov 2 low of $1045.00 and saw gains take the contract through the former resistance and bull trigger at $1088.5, Oct 27 high. This confirmed a resumption of the underlying uptrend as price extends the bullish sequence of higher highs and higher lows. The outlook is bullish, attention is on $1143.50 next, Jul 14, 2016 high (cont). Key trend support has been defined at $1045.00.
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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.