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SOY TECHS

(H2) Recovers From Tuesday’s Low

DATA REACT

US Philly Fed Mixed Price Signals

COPPER TECHS

(H2) Recovery From The 50-Day EMA Extends

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  • RES 3: 98.880 - High Aug 31 2021
  • RES 2: 98.755 - High Sep 23
  • RES 1: 98.460 - High Dec 06
  • PRICE: 98.320 @ 16:33 GMT Dec 07
  • SUP 1: 97.855 - Low Oct 29
  • SUP 2: 97.625 - 76.4% 2018-20 Range
  • SUP 3: 97.485 - Low Mar 19, 2020

Strength across Aussie 10y futures remains evident, with prices rising to touch 98.460 late last week. This opens the potential for gains towards 98.755, the Sep 23 high. The moves run counter to the previously bearish outlook, with prices recovering back toward the 200-dma at 98.431, which remains the next upside target. Any resumption of weakness would refocus attention on the bear trigger at 97.855, Oct 29 low.