TECHNICALS — CBOT soybeans may retest support at $12.76

For more technical analysis, click TECH/C SINGAPORE, Oct 13 (Reuters) — The CBOT soybean November contract may retest the support at $12.76 per bushel, as the downtrend from $13.09 may have resumed. The trend is supposed to extend to $12.65-1/4, the 138.2% projection level of a wave a wave c from $12.99-1/4, because it has briefly pierced below $12.71, the 114.6% level. Although this wave has completed, the current fall still closely observes the series of the projection levels. Before retesting the support, the market may bounce moderately into the $12.80-1/2 to $12.81-1/2 range. On the daily chart, the contract appears to have broken a support at $12.84-1/2. The break opened the way toward $12.53-1/4. Wang Tao is a Reuters market analyst for commodities and energy technicals. Views expressed are his own. His analyses are exclusively published on Workspace -- a platform provided by the London Stock Exchange. * No information in this analysis should be considered as being business, financial, or legal advice. Each reader should consult their own professional or other advisers for business, financial, or legal advice regarding the products mentioned in the analyses. ​ sx tech (Repor