25th Oct - Soybeans In Pullback Phase
25 October 2012
MONTHLY CHART - CONTINUATION
The break through the major peak of 2008 has been short-lived so far.
Support comes from prior highs in the 1450s, with break below this to put a dampener on the long term bull move.
DAILY CHART – Nov-12:
Support from the 38.2% retracement, 1536.00 25-Jul low area and old channel top has been violated now, indicating loss of upward momentum.
A s/term rebound is likely to prove temporary ahead of further setbacks.
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