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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

(X1) Fresh 2021 Highs

SOY TECHS
  • RES 4: $1537.38 - 0.764 proj of Mar 31 - May 12 - May 26 price swing
  • RES 3: $1500.00 - Round number resistance
  • RES 2: $1496.94 - 0.618 proj of Mar 31 - May 12 - May 26 price swing
  • RES 1: $1480.00 - Intraday high
  • PRICE: $1471.25 @ 13:44 BST Jun 7
  • SUP 1: $1383.00 - 20-day EMA
  • SUP 2: $1325.75 - Low May 26 and key support
  • SUP 3: $1312.00 - Low Apr 30
  • SUP 4: $1285.00 - High Apr 1

Soybean futures traded higher last week and today have gapped higher and cleared resistance at $1461.00, May 12 high and the bull trigger. The break higher confirms a resumption of the underlying uptrend and also takes the contract to fresh highs for the year. This opens $1496.94 next, a Fibonacci retracement. On the downside, key trend support has been defined at $1325.75, May 26 low.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com