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(X2) Watching Support

SOY TECHS
  • RES 4: $1584.75 - High Jun 9 and the key resistance
  • RES 3: $1556.75 - High Jul 11
  • RES 2: $1507.75 - High Jun 30
  • RES 1: $1489.00 - High Jul 29 and a key resistance
  • PRICE: $1404.00 @ 13:44 BST Sep 7
  • SUP 1: $1376.00 - Low Aug 16
  • SUP 2: $1356.00/1288.50 - Low Aug 3 / Low Jul 22 and bear trigger
  • SUP 3: $1276.00 - Low Jan 18
  • SUP 4: $1262.75 - Low Dec 30 2021

Soybean futures key short-term resistance is unchanged at $1489.00, Jul 29 high. This level remains intact but a break would undermine a bearish theme and signal potential for a stronger short-term recovery, opening the Jun 30 high of $1507.75. On the downside, the failure recently to hold on to gains, signals potential for weakness towards key support at $1356.00, Aug 3 low. A break of this level would be bearish.

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