CBOT soybeans may test resistance at $14.23-3/4

SINGAPORE: The CBOT soybean November contract may test a resistance at $14.23-3/4 per bushel, a break above which may open the way towards $14.31-1/4 to $14.42-1/4 range.

The contract managed to climb above a rising trendline, after briefly piercing below it.

CBOT soybeans may fall to $12.82 in Q4

This could be due to the completion of a wave c, which will be further reversed.

A break below $14.08-1/2 may be followed by a drop into $13.85 to $13.96 range.