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Soybeans CME: Buying Opportunity At 1440/38

Published 04/09/2014, 12:32 AM
Updated 07/09/2023, 06:31 AM

Soybeans CME Weekly Chart

Soybeans dipped from resistance at 1478/79 and held just above last week's low at 1458/57. We have been locked in a range for 5 sessions now. Below 1456 today adds pressure for 1451/50 then 1446. A low for the day likely here but if we continue lower look for a buying opportunity at 1440/38.

Immediate resistance at 1478/79 but above here a retest of 1488/89 could be expected. If we continue higher today look for last week's high at 1496.

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