MURICO.com Forum

Soybeans Daily *PIC*

This market made a new high today after the past 6 trading days. The market opened lower and closed lower. The
immediate trading pattern in this market has exceeded the previous session's high intraday reaching 13184.
Therefore, this market closed below the opening print while also closing down from the previous closing.

Clearly, this market is still above the critical support point at this time, which lies at 12799. Initial support lies at
13021. This market has exceeded intraday 2 of three projected resistance points and it has closed below 2 others.
Our underlying pivot providing some support lies at 13002 and a close below this level will warn of a shift to retest
support. At the moment, the projected extreme resistance stands at 13404.

Additionally, our central point cyclical study models also ended in a bearish mode for the closing warning that the
upward momentum is subsiding. Given the fact that we have made a new high and this study just turned down
today, caution is advised that this may prove to be a temporary high and a break of today's low of 13010 would tend
to confirm that possibility. Furthermore, the short-term Stochastics have also signaled a possible crash is likely. At
the moment, the market has breached our projected technical closing support which resided at 13408 warning that
it is turning down and a break of today's low will signal a further decline in the days ahead into the next turning
point. The Intraday Crash Mode support lies at 13023 which is above today's low. During the last session, we did
close above the previous session's Intraday Crash Mode support indicator at 12940 settling at 13154 which alerted us
to a further potential rally was likely going into the instant session.

The immediate Crash Mode support for this current session was 13015 which we have now closed back above
suggesting the crash is subsiding. The Intraday Crash indicator for the next session will be 13023. Now since we
closed back above this indicator in the current trading session, then holding above this indicator for the next
session will imply the decline is subsiding. The Secondary Intraday Crash Mode support lies at 12081 which we are
trading above at this time. A breach of this level with a closing below will signal that a sharp decline is possible.

Intraday Projected Crash Mode Points
Today...... 13015
Previous... 12940
Tomorrow... 13023