16
Soybean prices have remained below the resistance line of a bearish channel, signaling a continuation of bearish sentiment starting today. Analysts anticipate a further decline, aiming towards achieving bearish targets beginning at $1000.
The current market dynamics are influenced by the negative pressure exerted by the EMA50 indicator. A breakthrough above $1035 would invalidate the bearish outlook, potentially triggering a reversal towards upward movement.
Today’s projected trading range indicates support at $995 and resistance at $1035, highlighting key levels to watch amid ongoing market volatility.
Related topic:
Best 5 Ways To Read Soybean Futures Prices