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Soybean prices have surged past the $1,028.80 mark, signaling the activation of an inverted head and shoulders pattern. This upward movement indicates a positive momentum, supporting forecasts for further bullish corrections, with a target of $1,071.20 as the next key level.
The bullish trend is anticipated to continue in the short term; however, a decline below $1,028.80 would reverse this trend, subjecting prices to renewed negative pressure.
Today’s trading range is expected to fluctuate between a support level of $1,030.00 and a resistance level of $1,070.00.
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