Free Trial
USDCAD TECHS

Bullish Outlook

AUDUSD TECHS

Trend Needle Still Points South

US

US-ASEAN Summit Concludes

CANADA

Risk-On Sentiment Dominates

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(H2) Recovers From Tuesday’s Low

SOY TECHS
  • RES 4: $1500.00 - Psychological round number
  • RES 3: $1445.50 - High Jun 7, 2020 and a major resistance
  • RES 2: $1436.75 - High Jun 11, 2020
  • RES 1: $1415.00 - High Jan 7 and the bull trigger
  • PRICE: $1395.75 @ 13:44 GMT Jan 20
  • SUP 1: $1349.75/34.50 - Low Jan 18 / Low Dec 30
  • SUP 2: $1325.13 - 50-day EMA
  • SUP 3: $1300.50 - High Nov 17 and the recent breakout level
  • SUP 4: $1243.50 - Low Dec 14

Soybean futures remain in an uptrend. The contract found support Tuesday at $1349.75 and is approaching the 1400.00 handle. A continuation higher would expose the key resistance and bull trigger at $1415.00, Jan 7 high. A break of this hurdle would confirm a resumption of the underlying uptrend and open $1436.75, the Jun 11 2020 high. Key support is at $1349.75, a break of this level would reinstate a bearish threat.

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

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.