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Monday, October 25, 2021

CBOT soybeans may fall into $12.64-3/4 to $12.71 range

SINGAPORE: The CBOT soybean November contract may test a support at $12.77-1/2 per bushel, with a good chance of breaking below this level and falling into $12.64-3/4 to $12.71 range.

The bounce from the Sept. 21 low of $12.57-1/2 may have ended, after the contract failed to break a resistance at $12.92-1/4.

An extension of the bounce may be limited to this resistance, as indicated by a falling trendline.

A break above the resistance could lead to a gain into $12.98-1/2 to $13.05 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 fall into .64-3/4 to .71 range

Source: Brecorder

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