SINGAPORE: The CBOT soybean March contract may break a resistance at $13.72 per bushel and rise to $13.84-3/4.
The swift recovery of the price from the Monday low of $13.42 suggests a continuation of the uptrend from $12.23-1/2, which is riding on a wave C that may eventually travel to $13.97-1/4.
A break below $13.56-1/4 could cause a fall into $13.38-1/2 to $13.46-1/2 range.
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.
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