TECHNICALS-CBOT soybeans may extend gains into $10.82 to $10.89-1/4 range

SINGAPORE, Dec 26 (Reuters) - The CBOT soybean March contract SH26 may extend gains into a range of $10.82 to $10.89-1/4 per bushel.

The current bounce is considered the same degree as the one from the Nov. 21 low of $11.23-1/2. A falling channel suggests a target around $10.82.

Support is at $10.70-1/2, a break below which could trigger a fall into $10.58-1/4 to $10.63-1/4 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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