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(H3) Bullish Extension

SOY TECHS
  • RES 4: $1600.00 - Round number resistance
  • RES 3: $1572.25 - High Jun 9 and the key resistance
  • RES 2: $1545.75 - High Jun 17
  • RES 1: $1535.00 - Intraday high
  • PRICE: $1529.00 @ 12:15 GMT Dec 30
  • SUP 1: $1460.13 - 50-day EMA
  • SUP 2: $1412.75 - Low Nov 17
  • SUP 3: $1371.00 - Low Oct 6
  • SUP 4: $1299.00 - Low Jul 22 and bear trigger

Soybean futures resistance at $1508.00, the Sep 15 high, has recently been cleared. The short-term outlook remains bullish and the clear break of this hurdle confirms a resumption of the broader uptrend that started on Jul 22. This opens $1545.75 next, the Jun 17 high. On the downside, support to watch lies at $1460.13, the 50-day EMA. A break of this average would signal a potential short-term top.

Energy BulletsCommodities
Energy BulletsCommodities

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