Friday, 13 March 2015 11:54
SINGAPORE: CBOT soybeans May contract looks neutral in a range of $ 9.83-1/2 to $ 9.97-1/2, and an escape will point a direction.
The range has been formed by the March 12 low and the March 11 high. It could turn out to be a continuation pattern, followed by a rise, or a bearish triple-top, followed by a deep fall.
A rise to $ 9.99 could confirm a break above $ 9.97-1/2, and a bullish target will be established at $ 10.11-1/2, while a break below $ 9.83-1/2 could confirm a bearish target at $ 9.69-1/2.
Copyright Reuters, 2015
