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Soybean Technical Chart and Analysis 23rd December 2016
Soybean 1701 witnessed a lower high which indicates momentum is weak. Moreover, the MACD and RSI have continued to decrease, suggesting a bearish sign. The downside target will be at $992.88 (100-DMA). However, any upside above $996.71 will call off the above target and the market will continue its bullish rally towards $1010.4 (200-DMA).