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- 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.