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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