CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(H4) Bearish Trend Condition Intact

SOY TECHS
  • RES 4: $1410.75 - High Nov 15
  • RES 3: $1360.00 - High Dec 12
  • RES 2: $1263.69 - 50-day EMA
  • RES 1: $1247.50 - High Jan 25 and key resistance
  • PRICE: $1193.25 @ 13:44 GMT Feb 8
  • SUP 1: $1179.25 - Low Feb 7
  • SUP 2: $1175.25 - Low Jun 8
  • SUP 3: $1145.25 - Low May 31 and a key support
  • SUP 4: $1100.00 - Psychological round number

The downtrend in Soybean futures remains intact and recent short-term gains have proved to be a correction. The contract traded to a fresh cycle low this week to once again confirm a resumption of the downtrend. Sights are on $1175.25, the Jun 8 low. Moving average studies remain in a bear mode position, highlighting a clear downtrend. Initial firm resistance has been defined at $1247.50, the Jan 25 high.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

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.