CBOT soybean (Nov) may fall to 1,086 cent/bushel after cannot brake major resistance at 1,143 cent/bushel. Bearish signal in stochastic and moving average indicator will put pressure on price and add with fundamental bearish, good progress in US. soybean and corn harvest , rain fall in Brazil will reduce concern on its planting . I think the price collection from 1,144 cent/bushel so deep and it cannot stand over 1110 level (support uptrend line) that soybean trading range may decrease to 1,086-1,072 cent/bushel. I will wait to long soybean when buying signal in MACD occur.
Wednesday, September 29, 2010
CBOT Soybean may fall to 1,086 cent/bushel
CBOT soybean (Nov) may fall to 1,086 cent/bushel after cannot brake major resistance at 1,143 cent/bushel. Bearish signal in stochastic and moving average indicator will put pressure on price and add with fundamental bearish, good progress in US. soybean and corn harvest , rain fall in Brazil will reduce concern on its planting . I think the price collection from 1,144 cent/bushel so deep and it cannot stand over 1110 level (support uptrend line) that soybean trading range may decrease to 1,086-1,072 cent/bushel. I will wait to long soybean when buying signal in MACD occur.
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