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Soybean prices have successfully hit the anticipated target of $1,028.80, where they have established solid support. This level is further reinforced by positive signals from the stochastic indicator, suggesting a likelihood of a bullish bounce. Analysts anticipate the formation of an upward wave in the intraday market, with potential targets set at $1,053.00 and $1,071.20.
Today, a bullish sentiment is expected, although a drop below the $1,028.80 mark could lead to further losses, potentially reaching the next support level of $1,010.00.
The projected trading range for today is set between the support level of $1,020.00 and the resistance level of $1,060.00.
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Best 5 Ways To Read Soybean Futures Prices