CBOT soybeans neutral in $10.05 to $10.11-1/4 range
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The CBOT soybean November contract (SX25) looks neutral in a range of $10.05 to $10.11-1/4 per bushel, and an escape could suggest a direction.
A break above $10.11-1/4 would lead to a gain into $10.16-3/4 to $10.21 range, while a break below $10.05 could be followed by a drop into $9.95-1/4 to $10.01-1/2.
The bias might be toward the upside.
* 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.
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