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(K3) Remains Above Support

SOY TECHS
  • RES 4: $1584.00 - 1.00 proj of the Jun 22 - Sep 13 - Oct 6 price swing
  • RES 3: $1567.50 - High Jun 9, 2022 and key resistance
  • RES 2: $1549.75 - High Feb 22 and bull trigger
  • RES 1: $1527.75/1538.50 - High Apr 3 / High Mar 6
  • PRICE: $1497.00 @ 13:44 BST Apr 11
  • SUP 1: $1468.00 - Low Mar 31
  • SUP 2: $1439.75 - Low Mar 28
  • SUP 3: $1405.00 - Low Mar 24 and a key support
  • SUP 4: $1380.00 - Low Oct 6 2022

Soybean futures maintain a positive theme and the latest pullback appears to be a correction. Price has recently cleared the 1500.00 handle and attention turns to $1538.50, the Mar 6 high ahead of key resistance at 1549.75, the Feb 22 high. On the downside, key short-term support to watch is seen at $1468.00, the Mar 31 low. A reversal and a break of this support would highlight the start of a potential bearish phase.

Energy BulletsCommodities
Energy BulletsCommodities

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