CBOT November Soybeans break 1,127.00 Fibonacci support, eyes 1,100.75 Gann square and 1,073.00 target

A technical study of CBOT November soybean futures says prices have broken below the long-term 38.2% Fibonacci support at 1127.00 and have probed downside levels including the 1100.75 Gann square and the 61.8% retracement objective at 1073.00. It argues that a sustained loss of 1127.00 would turn the long-term trend bearish. The analysis cites no fundamental catalysts and is based solely on ONE44’s proprietary Fibonacci and Gann-structure model.