FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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) Trend Signals Remain Bearish

SOY TECHS
  • RES 4: $1410.75 - High Nov 15
  • RES 3: $1360.00 - High Dec 12
  • RES 2: $1289.13 - 50-day EMA
  • RES 1: $1251.94 - 20-day EMA
  • PRICE: $1237.00 @ 13:44 GMT Jan 25
  • SUP 1: $1201.00 - Low Jan 18
  • 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 short-term gains are considered corrective. The contract has recently traded through $1253.38, 61.8% of the May - Jul impulsive bull run and pierced $1212.06, the 76.4% retracement point. A continuation lower would open $1175.25, the Jun 8 2023 low. Moving average studies are in a bear mode position, highlighting a downtrend. Initial firm resistance is $1253.13, the 20-day EMA.

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.