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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

(H1) Consolidating But Remains Bullish

SOY TECHS
  • RES 4: $1508.56 - 2.236 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 3: $1470.00 - 2.00 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 2: $1436.50 - High Jan 19 and the bull trigger
  • RES 1: $1394.75 - High Jan 27
  • PRICE: $1373.75 @ 13:44 GMT Feb 8
  • SUP 1: $1298.00 - Low Jan 25
  • SUP 2: $1291.81 - 50-day EMA
  • SUP 3: $1280.00 - Dec 30 low
  • SUP 4: $1246.25 - Low Dec 29

Soybean futures continue to consolidate. The contract found support Jan 25 at $1298.00. A bullish outlook remains intact following the Jan 27 breach of resistance at $1387.00, Jan 21 high. The break exposes $1400.00 and if price trades through this level, resistance at $1436.50, Jan 13 high would be left exposed. The latter is the bull trigger for a resumption of the uptrend. Key short term support has been defined at $1298.00, Jan 25 low.

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