SINGAPORE: CBOT January soybeans are biased to revisit the Monday high of $15.08-3/4 per bushel, as they are riding on an upward wave (c).
This wave started at the Dec. 12 low of $14.57-1/4, unfolding towards a range of $15.28-1/2 to $15.35, formed by the 76.4 percent Fibonacci retracement on the fall from $15.77 to $13.72-1/4 and the 61.8 percent Fibonacci projection level.
A further fall from the current level may be limited to $14.83.
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