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The price of soybeans has continued its downward trajectory, approaching the anticipated target of $1050.00. Analysts foresee further declines, potentially reaching $1035.00 and even $1000.00.
Key to this bearish outlook is maintaining levels below $1070.00. A breach above this threshold could initiate a bullish wave, targeting a test of the bearish channel’s resistance around $1100.00, before any potential resumption of the downtrend.
Today’s expected trading range is between support at $1030.00 and resistance at $1170.00.
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