© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CANADA GIVING UKRAINE CAD650 MILLION OVER 3 YEARS

FED'S DALY SAYS PATIENCE IS A PRUDENT STRATEGY RIGHT NOW

MNI BRIEF: ECB “Can’t Rule Out Cuts” On Latest Info - De Cos

EZ/UK T-Bill Calendar: Germany And France To Issue On Monday

MNI: US SEP FLASH S&P MANUF PMI 48.9 (FCST 48.2); AUG 47.9

MNI: CANADIAN JUL RETAIL SALES +0.3%; SALES EX-AUTOS/PARTS +1.0%

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI BRIEF: Highlights From BOC Governor Macklem Speech

MNI BRIEF: Finance Minister Calls BOC Pause 'Welcome Relief'

(X3) Testing Support At The 50-Day EMA

SOY TECHS
Commodities TechEM BulletHomepagemarkets-real-timeCommoditiesEmerging Markets NewsBulletMarketsFixed Income NewsForeign Exchange News
  • 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: $1364.50 @ 13:44 BST Sep 13
  • SUP 1: $1346.44/1282.25 - 50-day EMA / Low Aug 8 and key support
  • SUP 2: $1256.75 - Low Jun 28
  • SUP 3: $1202.50 - Low Jun 12
  • SUP 4: $1167.00 - Low Jun 8

Soybean futures remain below the Aug 28 high of $1409.50. The recent move down is considered corrective and the trend outlook remains bullish - moving average studies continue to highlight an uptrend. A resumption of gains would signal scope for a climb towards $1435.00, the Jul 24 high and bull trigger. Firm support is seen at $1346.44, the 50-day EMA. It has been pierced - a break would potentially open key support at $1282.25, Aug 8 low.

155 words

To read the full story

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • 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: $1364.50 @ 13:44 BST Sep 13
  • SUP 1: $1346.44/1282.25 - 50-day EMA / Low Aug 8 and key support
  • SUP 2: $1256.75 - Low Jun 28
  • SUP 3: $1202.50 - Low Jun 12
  • SUP 4: $1167.00 - Low Jun 8

Soybean futures remain below the Aug 28 high of $1409.50. The recent move down is considered corrective and the trend outlook remains bullish - moving average studies continue to highlight an uptrend. A resumption of gains would signal scope for a climb towards $1435.00, the Jul 24 high and bull trigger. Firm support is seen at $1346.44, the 50-day EMA. It has been pierced - a break would potentially open key support at $1282.25, Aug 8 low.