FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(F3) Outlook Remains Bullish

SOY TECHS
  • RES 4: $1587.75 - High Jun 9 and the key resistance
  • RES 3: $1560.00 - High Jun 17
  • RES 2: $1519.13 - 76.4% retracement of the Jun 9 - Jul 22 bear leg
  • RES 1: $1476.69 - 61.8% retracement of Jun 9 - Jul 22 bear leg
  • PRICE: $1436.50 @ 13:14 GMT Nov 22
  • SUP 1: $1406.75/1362.25 - Low Nov 17 / Low Oct 6
  • SUP 2: $1297.00 - Low Jul 22 and bear trigger
  • SUP 3: $1278.25 - Low Jan 18
  • SUP 4: $1263.25 - Low Dec 30 2021

A bullish tone remains intact in Soybean futures and the recent pullback is considered corrective. Resistance at $1440.75, the Sep 27 high was breached recently, easing a bearish threat. The move signals potential for a climb towards the $1500.00 handle ahead of resistance at $1519.13, a Fibonacci retracement. On the downside, key support is at $1362.25, the Oct 6 low. A break, if seen, would be bearish.

Energy BulletsCommodities
Energy BulletsCommodities

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.