CBOT soybeans may fall towards $9.39-3/4
For more technical analyses, please click TECH/C
SINGAPORE, Nov 6 (Reuters) -The CBOT soybean January contract SF25 may break support at $9.83-1/2 per bushel and fall towards $9.39-3/4.
The big drop on Wednesday seems to have broken the balance in the neutral range of $9.83-1/2 to $10.10-3/4. Market is more likely to fall towards $9.39-1/2, to fulfil this target of a wave C, than to test resistance at $10.10-3/4 again.
However, confirmation of a break below $9.83-1/2 is still needed, as the contract may stabilize around this level again. The confirmation will be when the Oct. 31 low of $9.77-1/4 is broken.
On the hourly chart, until the contract falls below $9.77, the pattern from the Oct. 21 low of $9.81-3/4 may turn out to be an inverted head-and-shoulders.
A break above $9.87-3/4 may trigger a gain into $9.92-3/4 to $9.98-3/4 range.
* Wang Tao is a Reuters market analyst for commodities and energy technicals. Views expressed are his own.
** No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult their own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
Reporting by Wang Tao; Editing by Rashmi Aich
If you have a query or comment on this story, send an email to wang.tao@tr.com.
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
