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SCHATZ TECHS

(U1) Northbound

BOBL TECHS

(U1) Bullish Theme Dominates

BUND TECHS

(U1) Trend Conditions Remain Bullish

ASIA FX

Most Asia EM FX Higher As Greenback Retreats

GOLD

Struggling To Make A Decisive Move

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  • RES 4: $1500.00 - Round number resistance
  • RES 3: $1496.94 - 0.618 proj of Mar 31 - May 12 - May 26 price swing
  • RES 2: $1480.00 - High Jun 7 and the bull trigger
  • RES 1: $1384.63 - 20-day EMA
  • PRICE: $1298.00 @ 13:07 BST Jun 18
  • SUP 1: $1240.50 - Low Jun 17
  • SUP 2: $1200.00 - Psychological round number
  • SUP 3: $1185.50 - Low Mar 30
  • SUP 4: $1151.75 - Low Feb 11

Soybean futures traded sharply lower again yesterday. The move lower resulted in a break of support at $1325.75, May 26 low. Furthermore, price has this week also breached both the 20- and 50-day EMAs. This signals scope for a deeper pullback with attention turning to the $1200.00 level next and $1185.50, Mar 30 low. Initial resistance is seen at $1384.63, the 20-day EMA.