CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

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

(F4) Testing Trendline Resistance

SOY TECHS
  • RES 4: $1441.00 - High Jul 24 and bull trigger
  • RES 2: $1420.00 - High Aug 28
  • RES 1: $1398.00 - High Sep 6
  • RES 1: $1382.25 - Intraday high
  • PRICE: $1363.00 @ 14:32 GMT Nov 9
  • SUP 1: $1327.94/1297.50-day EMA / Low Oct 25
  • SUP 2: $1270.25/65.75 - Low Oct 11/12 / Low Jun 28
  • SUP 3: $1255.94 - 61.8% retracement of the May 31 - Jul 24 bull leg
  • SUP 4: $1212.19 - 76.4% retracement of the May 31 - Jul 24 bull leg

Soybean futures remain firm and the contract is trading just ahead of its recent highs. Last week’s gains resulted in a breach of resistance at $1338.75 and this week’s climb has resulted in a test of $1376.31, trendline resistance drawn from the Jul 24 high and the next key hurdle for bulls. A clear break of it would strengthen bullish conditions. Initial firm support has been defined at $1297.50, the Oct 25 low.

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.