CBOT soybeans face support at $11.43-3/4

SINGAPORE: CBOT soybeans January contract faces a support at $11.41-3/4 per bushel, and only a fall below that will open the way to $11.17.

The support is the 100 percent Fibonacci projection level of a downward wave "c", and may temporarily stop the current fall and trigger a rebound if it is strong enough.

For a valid break below the support, soybeans need to hover below it for at least two hours or touch $11.35.

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