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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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  • 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: $1289.25 - High Nov 17
  • PRICE: $1263.50 @ 13:44 GMT Dec 6
  • SUP 1: $1214.25/1181.25 - Low Nov 30 / Low Nov 9 and bear trigger
  • SUP 2: $1149.25 - Low Feb 11
  • SUP 3: $1136.50 - 61.8% of the Apr ‘20 - May ‘21 rally (cont)
  • SUP 4: $1101.25 - 1.382 proj of the Jun 7 - 17 - Jul 1 price swing

Soybean futures are extending the rebound from $1214.25, Nov 30 low. A break of this support is required to expose the key $1181.25 level, Nov 9 low and bear trigger where a break would confirm a resumption of the downtrend to open $1149.25, the Feb 11 low. On the upside, key short-term resistance has been defined at $1289.25, Nov 17 high. This is the bull trigger and a move through it would highlight a more significant reversal.