Markets

CBOT soybeans may break resistance at $10.76-1/2

Published March 6, 2018 Updated March 6, 2018 12:58pm

The resistance is at the 161.8 percent projection level of an upward wave C from $9.79-1/4. It triggered a brief correction, which has been almost reversed.

The reversal signals a continuation of the uptrend. A break above $10.76-1/2 could lead to a gain to $10.85-1/2. Support is at $10.69-1/2, a break below which could cause a loss to $10.62-1/2.

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, 2018