Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Soybeans Strong Support At 1038

Published 05/19/2016, 02:44 AM
Updated 07/09/2023, 06:31 AM

Soybeans CME Chart

Soybeans holding below first resistance at 1075/74 targets 1070 then support again at 1064/63. If we continue lower look for 1057/55 then 1047/46. Bare in mind we should find strong support at 1038/37.

First resistance at 1074/75, but above yesterday's high at 1078/79 re-targets 1088 and important resistance at the May high so far of 1090/92. We should struggle in overbought conditions, but baring in mind the strong and seemingly unstoppable 2.5 month bull market, be ready to buy a break above here to target 1099/1100 and 1108/1100.

If we continue higher, look for 1120 and 1123/24.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.