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(F1) Needle Still Points North

SOY TECHS
  • RES 4: $1208.50 - High Jun 10. 2016 and a major resistance
  • RES 3: $1200.00 - Round number resistance
  • RES 2: $1198.75 - High Jun 13, 2016 (cont)
  • RES 1: $1189.75 - High Nov 18
  • PRICE: $1166.50 @ 12:12 GMT Nov 19
  • SUP 1: $1138.00 - Low Nov 13
  • SUP 2: $1108.00 - Low Nov 10
  • SUP 3: $1062.63 - 50-day EMA
  • SUP 4: $1045.00 - Low Nov 2 and the bear trigger

Soybean futures remain bullish trading to a fresh high yesterday. Recent gains off the Nov 2 low of $1045.00 saw the contract trade through the former resistance and bull trigger at $1088.5, Oct 27 high. Bulls haven't looked back since. Further upside is likely with attention on $1198.75 next, Jun 13, 2016 high (cont). Key trend support has been defined at $1045.00. However ahead of that, initial support is at $1138.00, Nov 13 low and $1108.00, Nov 10 low.

Energy BulletsCommodities
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