CBoT soyameal remains a short play
Soyameal:
Price has been trading in a sideways moving channel between 310 on the upside and 295 on the downside for 12 sessions now and seems to be stuck between these two levels. As far as we are concerned we can bounce one more time to the upside of the sideward moving channel during next week after which we still expect it to break down decisively through its 295 supportive level and to start trading for much lower values.
Price has been trading in a sideways moving channel between 310 on the upside and 295 on the downside for 12 sessions now and seems to be stuck between these two levels. As far as we are concerned we can bounce one more time to the upside of the sideward moving channel during next week after which we still expect it to break down decisively through its 295 supportive level and to start trading for much lower values.
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