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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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19th October - Bunds are topping out

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