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AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

USDJPY TECHS

Bullish Argument Down, But Not Out

EURGBP TECHS

Attention Is On Resistance

EQUITIES

Stocks Higher as Stimulus Here to Stay

SOY TECHS
  • RES 4: $1508.56 - 2.236 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 3: $1500 00 - Round number resistance
  • RES 2: $1470.00 - 2.00 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 1: $1436.50 - High Jan 13
  • PRICE: $1421.50 @ 13:44 GMT Jan 15
  • SUP 1: $1342.00 - Low Jan 7
  • SUP 2: $1321.81 - 20-day EMA
  • SUP 3: $1301.00 - Jan 4 low
  • SUP 4: $1246.25 - Low Dec 29

Soybean futures are consolidating. The outlook though remains bullish. The contract traded higher Wednesday extending this year's climb. Last month's clearance of $1200.25, Nov 25 high and a former bull trigger, confirmed a resumption of the primary uptrend. This maintains a bullish price sequence of higher highs and higher lows, reinforcing the uptrend. The focus is on $1470.00 next, a Fibonacci projection.