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JGB TECHS

(U2) Solid Bounce Into the Close

USDCAD TECHS

Bullish Price Structure

AUDUSD TECHS

Clears Key Support

EURJPY TECHS

Retracement Mode

COMMODITIES

Oil Supply Constraints Trump Lower Demand

USDJPY TECHS

Pullback Considered Corrective

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(H1) Bullish Theme Remains Intact

SOY TECHS
  • RES 4: $1407.56 - 1.618 proj of Oct 29 Nov 25 rally from Dec 2 low
  • RES 3: $1400.00 - Psychological round number
  • RES 2: $1388.25 - 1.500 proj of Oct 29 Nov 25 rally from Dec 2 low
  • RES 1: $1378.25 - High Jan 6
  • PRICE: $1374.00 @ 13:12 GMT Jan 8
  • SUP 1: $1266.82 - 20-day EMA
  • SUP 2: $1246.25 - Low Dec 29
  • SUP 3: $1200.25 - High Nov 25 and former breakout level
  • SUP 4: $1166.50 - Low Dec 14

Soybean futures outlook remains bullish with the contract holding onto recent gains. Last month's clearance of key resistance at $1200.25, Nov 25 high and a bull trigger, confirmed a resumption of the primary uptrend, maintaining a bullish price sequence of higher highs and higher lows. The focus is on $1388.25 next, a Fibonacci projection. On the downside, key trend support has been defined at $1143.00, Dec 2 low. Initial firm support is at $1266.82.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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