CBOT soybeans may test support at $4.96-1/4
DBA•The CBOT November soybean contract may test support at $4.96-1/4 per bushel; a break below could open the way to $4.89-1/4 to $4.92.
1. Soybean price levels
The CBOT November soybean contract may test support at $4.96-1/4 per bushel. A break below that level could open the way to $4.89-1/4 to $4.92, while the wave could extend to support between $4.78 and $4.85.
2. Resistance and daily chart
Resistance is at $5.00-1/4; a break above it may lead to a gain into the $5.03-1/4 to $5.07-3/4 range. On the daily chart, a large black candle points to a further fall toward $4.82-1/2 to $4.90-1/2.
