Free Trial

(H2) Clears A Key Resistance

  • RES 4: $1500.00 - Psychological round number
  • RES 3: $1445.50 - High Jun 7 and a major resistance
  • RES 2: $1436.75 - High Jun 11
  • RES 1: $1415.00 - High Jul 1
  • PRICE: $1373.75 @ 14:49 GMT Jan 11
  • SUP 1: $1334.50 - Low Dec 30
  • SUP 2: $1300.50 - High Nov 17 and the recent breakout level
  • SUP 3: $1243.50 - Low Dec 14
  • SUP 4: $1223.50 - Low Dec 1

Soybean futures remain in an uptrend and short-term dips are considered corrective. A bullish theme follows last month's break of $1300.50, Nov 17 high. The move through this level confirmed a bullish price sequence of higher highs and higher lows. $1399.50, the Jul 19 high has been cleared and this opens $1436.75, the Jun 11 high. Key short-term support is at $1334.50, the Dec 30 low. A break would threaten the trend.

To read the full story



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.