TECHNICALS-CBOT soybeans to retest support at $10.01-1/2
SINGAPORE, Oct 13 (Reuters) - The CBOT soybean November contract SX25 is expected to retest support at $10.01-1/2 per bushel, a break below could trigger a fall into the $9.90-1/2 to $9.95-1/4 range.
The bounce from around $9.95-1/4 might have been driven by a wave (d), which will be totally reversed by the current wave (e).
Immediate resistance is at $10.11-1/4, a break above could lead to a gain into the $10.16-3/4 to $10.21 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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