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(H2) Fresh Highs

SOY TECHS
  • RES 4: $1546.00 - 3.00 proj of the Nov 9 - 17 - Dec 1 price swing
  • RES 3: $1520.63 - 2.764 proj of the Nov 9 - 17 - Dec 1 price swing
  • RES 2: $1500.00 - Psychological round number
  • RES 1: $1496.75 - Intraday high
  • PRICE: $1487.25 @ 13:44 GMT Jan 31
  • SUP 1: $1428.50/1382.50 - Low Jan 274 / Low Jan 24
  • SUP 2: $1349.75 - Low Jan 18
  • SUP 3: $1334.50 - Low Dec 30
  • SUP 4: $1300.50 - High Nov 17 and the recent breakout level

Soybean futures continue to climb and the trend condition remains bullish. The extension maintains the bullish price sequence of higher highs and higher lows that defines an uptrend. Moving average conditions also remain bullish, highlighting the current sentiment. Scope is seen for a climb towards the $1500.00 next, a Fibonacci projection. Support has been defined at $1382.50, the Jan 24 low.

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