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CBOT soybeans may re -test the support level of $ 13.0075



Huitong.com,突发新闻 December 11 -This paper provides technical analysis of CBOT soybean contract.CBOT Soy Soy January Contract SF24 may reintermine the support level of $ 13.0075 per pierced ear, because the rebound of $ 12.92 from December 7 may have been completed.

This article provides technical analysis of CBOT soybean contract.

CBOT Soy Soy January Contract SF24 may reintermine the support level of $ 13.0075 per pierced ear, because the rebound of $ 12.92 from December 7 may have been completed.

The rebound seemed to be driven by D waves, and the D wave was the fourth wave of the $ 13.8925 five wave cycle.This wave is expected to be reversed by the current wave E.

Forecast analysis shows that the target of the E wave is around $ 12.7350.The resistance level is $ 13.1775, and breaking the resistance level may cause rising to $ 13.2725.

On the daily chart, the contract failed to break the resistance of $ 13.3525 on December 8.A long candle forms a long upper shadow line, indicating that the bullish momentum is dissipating and fell to $ 12.95.

Only by exceeding $ 13.3525 can it indicate that the upward trend of $ 12.7025 will continue.