CBOT soybeans fall into $8.81-3/4 to $8.85-3/4 range

• The support is provided by the 61.8pc retracement on the fall from $9.03 to $8.68-3/4.
• The resistance at $8.94-3/4 is not working alone.

The support is provided by the 61.8pc retracement on the fall from $9.03 to $8.68-3/4.

The contract took a few days to break this former resistance.

The current resistance at $8.94-3/4 is stronger.

It has triggered a correction towards $8.85-3/4.

The resistance at $8.94-3/4 is not working alone.

It is strengthened by another one at $8.94 on the daily chart, which is the 76.4pc projection level of a downward wave c from $9.61.