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CBOT soybeans rise to $14.19-1/2 a bushel
SINGAPORE : CBOT soybeans July contract would rise to $14.19-1/2 per bushel, as it could have completed a wave (2) corre
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SINGAPORE: CBOT soybeans July contract would rise to $14.19-1/2 per bushel, as it could have completed a wave (2) correction.
A powerful upward wave (3) will take over and unfold towards $14.55-1/4, the 61.8 percent Fibonacci projection level, based on the length of the wave (1) which rose from $13.06-1/2 to $14.19-1/2.
The bullish view will be violated once a support at $13.78 is broken below.
No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
Copyright Reuters, 2011
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