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CORN TECHS

(N1) Needle Still Points North

SOY TECHS

(N1) Bullish Theme

COPPER TECHS

(K1) Breaks Out Of Its Recent Range

OPTIONS

Larger FX Option Pipeline

USD

Greenback Weakness Resumes into NY Hours

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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: $1460.00 - High Mar 8 and the bull trigger
  • RES 1: $1456.25 - Apr 1 high
  • PRICE: $1407.75 @ 13:44 GMT Apr 8
  • 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 are unchanged. The contract rallied Mar 31 and this has defined a key S/T support at $1364.25, Mar 30 low and, it 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 uptrend. This would open $1475.00, a Fibonacci projection. On the downside, sub $1364.25 levels would signal scope for a correction.