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CBOT soybeans to rise more to $13.98-1/4
SINGAPORE : CBOT soybeans November contract will gain more to $13.98-1/4 per bushel, as indicated by its wave pattern an
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SINGAPORE: CBOT soybeans November contract will gain more to $13.98-1/4 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.
After clearing a resistance at $13.70-1/2, the 61.8 percent Fibonacci projection level, the current wave "C" will extend to $13.98-1/4, the 100 percent level, as a chance has been significantly increased for this wave to travel the same length as the wave "A".
Retracement will be shallow, limited to $13.68.
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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