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Bunge Limited Testing Key Support ... Analysis Enclosed




Bunge Limited (BG) presently testing key channel support, able to contain weekly selling pressures.


From here, (BG) can gain strength and push higher where gains of 10% can be expected over the following 3 - 5 weeks.


A weekly settlement above a near-term channel top would lead to a larger gain as we move into Q2, where gains of 15% - 20% would be anticipated over the following 1 - 2 months.


Inversely, a weekly settlement below the support (BG) is presently testing would lead to losses of 20 - 25% over the following 3 - 5 months.

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