TECHNICALS-CBOT soybeans may test support of $10.13-1/4
SINGAPORE, June 26 (Reuters) - The CBOT soybean November contract SX25 may test support of $10.13-1/4 per bushel, a break below could open the way toward $10.04-3/4 to $10.08 range.
The contract is presumably riding on a wave 5, which closely observes a series of projection levels on the drop from $10.49-3/4.
Immediate resistance is at $10.22, a break above which could lead to a gain into $10.27-1/4 to $10.31-1/2 range.
* Wang Tao is a Reuters market analyst for commodities and energy technicals. Views expressed are his own.
** No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult their own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
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