Monday, November 2, 2009

CBOT Soyoil Weekly: Upward move halted


Market violated the downside support at USD37.00 had weaken the immediate weekly outlook. Upward move has been slowing down following a black candle printed. Thus, market may consolidate in near term with upside resistance is pegged at USD39.18. Downside support is lies at USD35.00 to 34.80 followed by USD33.00 to 32.00.