Markets
CBOT soybeans may bounce to $10.09
- The support is provided by the 176.4pc projection level of an uptrend from $9.01.
SINGAPORE: The CBOT soybean November contract may bounce to $10.09 per bushel, as it has found a support at $9.96-1/4.
The support is provided by the 176.4pc projection level of an uptrend from $9.01.
The contract seems to have lost its bearish momentum around this support.
It may at least hover above this level for one day.
A weak bounce towards $10.09 may have been triggered.
A break below $9.96-1/4 could cause a fall into the $9.82 to $9.88-1/4 range.
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