TECHNICALS-CBOT soybeans may retest support at $10.01-1/2
SINGAPORE, Oct 14 (Reuters) - The CBOT soybean November contract SX25 may 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 seems to have been driven by a wave (d), which will be totally reversed by the current wave (e).
A break above $10.11-1/4 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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