Soybean Technicals from Reuters

 

   

SINGAPORE, Oct 15 (Reuters) - A bullish target at $12.26 per bushel for the CBOT soybean November futures contract <SX0> is unchanged, as it has stood above a consolidation channel between $11.50-¾   and $11.88-3/4.

The projected target is based on the price difference between the high and the low of the channel.

The wave pattern indicates a wave "5" is running up towards a more aggressive target at $12.80 in the medium term, as pointed by an ascending trendline, confirming the move towards $12.26 in short term.

Support has shifted up to $11.78 from the previous level of $11.70, and a break below would extend losses to $11.50-3/4, the low of the range.

Soybean Technicals from Reuters

SINGAPORE, Oct. 13 (Reuters) - The CBOT soybean November futures contract <SX0> is expected to break above Monday's high at $11.88-¾   per bushel and rise towards $12.26 thereafter.

A flat consolidation following a sharp rise is generally a continuation pattern before the establishment of a new rally, in the case of soybeans, so as long as it remains above $11.50-3/4, the bullish view would remain unchanged.

A fall below $11.50-¾   could confirm a double-top, and a further retracement to $11.13 will be likely, while a rise above $11.88-¾   would immediately open the way towards $12.26.

Soybean Technicals from Reuters

   

SINGAPORE, Oct. 12 (Reuters) - The CBOT soybean November futures contract could return to Monday's high at $11.88-¾   per bushel as the uptrend is still intact.

An inverted head-and-shoulders pattern is forming on the ten-minute chart, a moderate gain above $11.70 would confirm the pattern and a bullish target at $11.88-¾   would be established.

Support is at $11.60, a fall below which would signal a continuation of the retracement and would open the way towards $11.50.

Soybeans Technicals from Reuters

SINGAPORE, Oct 7 (Reuters) - CBOT soybean November futures contract <SX0> is technically neutral as the fall during the previous trading session was too shallow to confirm a move towards the projected target at $10.42 per bushel.

Soybeans failed the trendline resistance at $10.73, but it may attempt the second time to break above $10.70 and rise towards $10.90.

However, a conflicting signal is given by the bearish head-and-shoulders pattern as it points to a target $10.25.

The bias could be with the bulls, as a morning star on daily candlestick chart (chart not given) could indicate a bullish reversal at the Oct. 4 low of $10.42, as a result, the chance for a further dip to $10.42 is significantly reduced.

Soybeans Technicals from Reuters

SINGAPORE, Oct. 5 (Reuters) - The CBOT soybean November futures contract is technically neutral as it may develop a further rebound from the current level or resume the preceding fall.

A rise above the nearest resistance at $10.61-½   could trigger a further rebound to $10.70, while a fall below the nearest support at $10.41 could signal the resumption of the fall towards a support zone between 10.22-¾   and $10.25.

The bias is at the downside, as a head-and-shoulders pattern points to $10.22-3/4, and the minor rebound on Monday is deemed as a reaction to Friday's sharp fall.

Soybeans Technicals from Reuters

 SINGAPORE, Oct 1 (Reuters) - CBOT November soybean futures <SX0> have turned technically neutral as a consolidation range is seen between $10.81 and $11.10 per bushel.

The range could develop into a double bottom, pointing to $11.37, or a double top, to indicate a further drop towards a bearish target at $10.56.

Resistance is at $11.11, a break above which would confirm the bullish double-bottom pattern. Support is at $10.79, a fall below which would confirm a double top. 

The bias is still with the bulls, as the support at $10.79-1/2, the wave "4" trough, could be strong enough to hold up the fall and trigger a strong rebound.

CBOT soybeans to rebound to $11.20 per bushel

SINGAPORE, Sept 30 (Reuters) - CBOT soybean November futures could rise to $11.20 per bushel after completing a retracement that started from the Monday high at $11.44. 

The correction has penetrated into a strong support range between $10.72-½   and $10.89-1/4- the 50 percent and 38.2 percent Fibonacci retracement levels on the rise from $10.00-¾    to $11.44.

Soybeans are expected to eventually recover the fall by returning to $11.44. But before that, a rebound to $11.20 will be seen on Thursday.

 

A fall below the previous session low at $10.83-½   would be limited to $10.72-1/2.

REUTERS

Soybeans Technicals from Reuters

SINGAPORE, Sept 29 (Reuters) - CBOT soybean November futures would fall to $10.89-¼   per bushel as a five-wave cycle may have completed at the Sept 27 high of $11.44. 

The correction from $11.44 is so deep that it indicates the completion of wave "5". The following retracement is expected to range between $10.72-½   and $10.89-1/4, the 50 percent and 38.2 percent Fibonacci retracement levels, respectively, on the rise from $10.00-¾   to $11.44. 

A moderate rebound to $11.15 could be possible before the fall resumes, while a rise above $11.18 would open the way to $11.35.

Soybeans Technicals from Reuters

SINGAPORE, Sept 28 (Reuters) - A bullish target of $11.60 per bushel for the CBOT soybean November futures contract <SX0> is intact, as per its wave pattern. 

The rise from the Sept. 23 low at $10.79-½   adopted a five-wave mode with wave "4" completed at $11.22, slightly lower than the expected correction limit of $11.25. 

A small double-top pattern is seen around $11.22, confirming the completion of the wave "4" retracement. Still, a rise above the neckline at $11.40 is a must for concluding the progress of the upward wave "5".

A fall below $11.22 would extend losses to $11.05.