Free Trial

(F1) Consolidation Mode

SOY TECHS
  • RES 4: $1383.75 - High Aug 17
  • RES 3: $1344.00 - High Aug 25
  • RES 2: $1306.75/1317.00 - High Sep 27 / High Sep 16
  • RES 1: $1273.75 - High Oct 8 and a key resistance
  • PRICE: $1245.75 @ 13:44 BST Oct 28
  • SUP 1: $1195.75 - Low Oct 13
  • SUP 2: $1183.75 - Low Mar 31, 2020
  • SUP 3: $1149.25 - Low Feb 11
  • SUP 4: $1136.50 - 61.8% of the Apr '20 - May '21 rally (cont)

Soybean futures are unchanged. The contract remains in a downtrend. Recent gains since Oct 13 are considered corrective in nature. The contract has recently breached $1244.75, Jun 17 low, reinforcing bearish conditions. This maintains the price sequence of lower lows and lower highs and moving average studies remain in a bear mode. Attention is on the Mar 31 low of $1183.75. Firm resistance is unchanged at $1273.75, the Oct 8 high.

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.