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Eurodollar/SOFR/ Tsy Options Roundup


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(N1) Needle Still Points North

  • RES 4: $1663.56 - 1.236 proj of Dec 2 - Jan 13 - Jan 25 price swing
  • RES 3: $1630.00 - High Jul 2013
  • RES 2: $1600.00 - Psychological round number resistance
  • RES 1: $1599.50 - High May 7
  • PRICE: $1596.00 @ 13:44 BST May 11
  • SUP 1: $1511.00 - 20-day EMA
  • SUP 2: $1490.50 - Low Apr 22
  • SUP 3: $1451.63 - 50-day EMA
  • SUP 4: $1374.75 - Low Apr 12 and 13 low and key near-term support

Soybean futures maintain a firmer tone. The contract rallied Friday, trading above resistance at $1574.75, Apr 27 high. The move to fresh highs since Apr 20 confirms a resumption of the underlying uptrend and last week's gains have once again reinforced a positive theme as the bullish price sequence of higher highs and higher lows extends. The focus is on the psychological $1600.00 level next. On the downside, support is at $1490.50, Apr 28 low.

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