(X3) Holding On To Recent Gains

• RES 4: $1504.25 - 1.00 proj of the May 31 - Jun 21 - Jun 28 swing
• RES 2: $1504.25 - High 9 Jun’22
• RES 1: $1448.25 - High Apr 29
• RES 1: $1435.00 - High Jul 24 and bull trigger
• PRICE: $1363.00 @ 13:44 BST Aug 24
• SUP 1: $1282.25 - Low Aug 8
• SUP 2: $1256.75 - Low Jun 28 and key support
• SUP 3: $1202.50 - Low Jun 12
• SUP 4: $1167.00 - Low Jun 8

Soybean futures remain above the Aug 8 low of $1282.25. The recent move down that started Jul 24, is considered corrective and the recovery since Aug 8 reinforces this theme. A continuation higher would refocus attention on $1435.00, the Jul 24 high and bull trigger. On the downside, key support has been defined at $1282.25, the Aug 8 low. A break of this level would reinstate a bearish theme.