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Thursday, October 21, 2021

CBOT soybeans may rise into $12.92-1/4 to $12.98-1/2 range

SINGAPORE: The CBOT soybean November contract may break a resistance at $12.85-1/4 per bushel and rise into $12.92-1/4 to $12.98-1/2 range.

The downtrend has been developing within a falling wedge, the lower trendline of which provides a strong support. The contract could be bouncing towards the upper trendline.

Immediate Support is at $12.77-1/2, a break below which could cause a fall into the $12.64-3/4 to $12.71 range.

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.

CBOT soybeans may rise into .92-1/4 to .98-1/2 range

Source: Brecorder

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