Free Trial

(H3) Uptrend Remains Intact

  • RES 4: $1572.25 - High Jun 9 and the key resistance
  • RES 3: $1545.75 - High Jun 17
  • RES 2: $1508.00 - High Sep 15 and a key resistance
  • RES 1: $1497.25 - High Dec 9
  • PRICE: $1478.25 @ 13:44 GMT Dec 13
  • SUP 1: $1412.75 - Low Nov 17
  • SUP 2: $1371.00 - Low Oct 6
  • SUP 3: $1299.00 - Low Jul 22 and bear trigger
  • SUP 4: $1266.50 - Low Jan 12

Soybean futures resistance at $1484.00, Nov 30 high, has recently been breached. The short-term outlook remains bullish and the clear break of this hurdle confirms a resumption of the uptrend and opens $1500.00 ahead of resistance at $1508.00, the Sep 13 high. On the downside, support to watch lies at 1412.75, the Nov 17 low. A reversal lower and a break of this level would signal scope for a deeper pullback instead.

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.