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BOND SUMMARY

EGB/Gilt: Ending The Week On A Soft Note

CORN TECHS

(N1) Needle Still Points North

SOY TECHS

(N1) Bullish Theme

COPPER TECHS

(K1) Breaks Out Of Its Recent Range

OPTIONS

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  • 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: $1445.75 - High Feb 25
  • RES 1: $1435.00 - 3.0% 10-dma Envelope
  • PRICE: $1415.75 @ 13:44 GMT Mar 1
  • SUP 1: $1336.75 - Low Feb 11
  • SUP 2: $1332.94 - 50-day EMA
  • SUP 3: $1297.00 - Low Jan 25
  • SUP 4: $1278.75 - Dec 30 low

Soybean futures continue to find support below the 20-day EMA and Friday's low of $1378.25 marks a key near-term support. The underlying bull trend remains intact with the bull trigger at $1445.75, Feb 25 high. A break would confirm a resumption of the uptrend and open $1475.00, a Fibonacci projection. On the downside, weakness through $1378.25 would signal scope for a deeper corrective pullback and expose $1336.75, the Feb 11 low.