(K1) Attention Remains On Key Resistance

• RES 4: $1514.44 - 2.236 proj of Oct 29 - Nov 25 rally from Dec 2 low
• RES 3: $1475.00 - 2.00 proj of Oct 29 - Nov 25 rally from Dec 2 low
• RES 2: $1460.00 - High Mar 8 and the bull trigger
• RES 1: $1456.25 - Apr 1 high
• PRICE: $1423.00 @ 13:44 GMT Apr 7
• SUP 1: $1364.25 - Low Mar 30 and key near-term support
• SUP 2: $1336.75 - Low Feb 11
• SUP 3: $1297.00 - Low Feb 25
• SUP 4: $1244.00 - Low Dec 29

Soybean futures rallied Mar 31. The recovery defines a key short-term support at $1364.25, Mar 30 low and means the 50-day EMA area of support has also remained intact - the MA was probed last week. Attention is on $1460.00, Mar 8 high where a break would confirm a resumption of the underlying uptrend. This would open $1475.00, a Fibonacci projection. On the downside, sub $1364.25 levels would signal scope for a S/T correction.