Soybeans
Fundamentals: Yesterday’s Crop Progress report showed that the U.S. soybean crop is 78% planted, 2% behind estimates but only 1% behind historical averages. 55% of the crop is emerged.
Techncials (July): Consolidation looks to be the name of the game as the market is forming a wedge of higher lows and lower highs. This could lead to a bigger directional move once the wedge is broken. With the market consolidating, many of our technical support and resistance levels remain intact. First resistance comes in from 1717-1720. Support comes in at 1690.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 1717-1720***, 1734-1741***, 1750**
Pivot: 1700
Support: 1690**, 1673-1679 ½***, 1665 ½-1673 ¾****, 1605**
Fundamentals: Yesterday’s Crop Progress report showed that the U.S. soybean crop is 78% planted, 2% behind estimates but only 1% behind historical averages. 55% of the crop is emerged.
Techncials (July): Consolidation looks to be the name of the game as the market is forming a wedge of higher lows and lower highs. This could lead to a bigger directional move once the wedge is broken. With the market consolidating, many of our technical support and resistance levels remain intact. First resistance comes in from 1717-1720. Support comes in at 1690.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 1717-1720***, 1734-1741***, 1750**
Pivot: 1700
Support: 1690**, 1673-1679 ½***, 1665 ½-1673 ¾****, 1605**
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.