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(F1) Pushing Higher

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: $1192.75 - Intraday high
  • PRICE: $1190.25 @ 12:47 GMT Nov 20
  • SUP 1: $1138.00 - Low Nov 13
  • SUP 2: $1108.00 - Low Nov 10
  • SUP 3: $1067.13 - 50-day EMA
  • SUP 4: $1045.00 - Low Nov 2 and the bear trigger

Soybean futures remain bullish trading to a fresh high once again today. This reinforces the underlying bull trend and extends the most recent recovery phase off the Nov 2 low. Furthermore, the move higher maintains the broader bullish price structure of higher highs and higher lows. The focus is on a climb towards $1200.00 next. On the downside, firm support is seen at $1138.00, Nov 13 low.

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