TECHNICALS — CBOT soybeans may test support at $12.67 — 1/4

For more technical analysis, click TECH/C SINGAPORE, Oct 15 (Reuters) — The CBOT soybean November contract may test a support at $12.67-1/4 per bushel, a break below which may trigger a fall into the $12.58 to $12.63-1/4 range. The drop during the previous trading session confirmed the extension of wave c, which started at $12.97-1/2 and has travelled below its 61.8% projection level of $12.73. The projection analysis suggests a further fall toward $12.58. A break above $12.73 may lead to a gain into the $12.77-3/4 to $12.82-1/2 range. On the daily chart, the contract eventually fell below a rising channel. The fall may extend to $11.71, as suggested by a channel technique and the wave pattern. A realistic target is $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 a