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EUROZONE DATA

Economic Sentiment at Late 2020 Lows

USD

USDJPY still eye 145.00

CROSS ASSET

Month end extension (cross assets)

EQUITIES

Bounce Off Lows Deemed Corrective as Futures Fade

COMMODITIES

WTI, Gold Retrace Off Wednesday Highs

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(X2) Holding On To Recent Gains

SOY TECHS
  • RES 4: $1556.75 - High Jul 11
  • RES 3: $1507.75 - High Jun 30
  • RES 2: $1489.00 - High Jul 29 and a key resistance
  • RES 1: $1457.00 - Intraday high
  • PRICE: $1444.25 @ 13:14 BST Aug 12
  • SUP 1: $1356.00/1288.50 - Low Aug 8 / Low Jul 22 and bear trigger
  • SUP 2: $1276.00 - Low Jan 18
  • SUP 3: $1262.75 - Low Dec 30 2021
  • SUP 4: $1225.50 - Low Dec 14 2021

Soybean futures have traded higher again today as the contract extends the bounce from $1356.00, Aug 3 low and first support. Resistance has been defined at $1489.00, Jul 29 high. Moving average studies still highlight a bearish condition. A break below $1356.00 would strengthen the bearish theme and open $1288.50, the Jul 22 low and bear trigger. On the upside, clearance of $1489.00 would instead highlight a bullish development.

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  • RES 4: $1556.75 - High Jul 11
  • RES 3: $1507.75 - High Jun 30
  • RES 2: $1489.00 - High Jul 29 and a key resistance
  • RES 1: $1457.00 - Intraday high
  • PRICE: $1444.25 @ 13:14 BST Aug 12
  • SUP 1: $1356.00/1288.50 - Low Aug 8 / Low Jul 22 and bear trigger
  • SUP 2: $1276.00 - Low Jan 18
  • SUP 3: $1262.75 - Low Dec 30 2021
  • SUP 4: $1225.50 - Low Dec 14 2021

Soybean futures have traded higher again today as the contract extends the bounce from $1356.00, Aug 3 low and first support. Resistance has been defined at $1489.00, Jul 29 high. Moving average studies still highlight a bearish condition. A break below $1356.00 would strengthen the bearish theme and open $1288.50, the Jul 22 low and bear trigger. On the upside, clearance of $1489.00 would instead highlight a bullish development.