Soybean Prices Hover at $984.00 Amid Bearish Outlook

by Yuki

Soybean prices have settled around the $984.00 mark, with market observers anticipating a potential negative catalyst that could drive prices back into a bearish trend on both intraday and short-term bases. Analysts highlight a target of $960.30 as the next key level to watch.

The 50-period Exponential Moving Average (EMA50) continues to exert downward pressure on prices, reinforcing expectations for a sustained decline. It is crucial to note that maintaining levels below $1,000.00 will be necessary for the continuation of this bearish wave.

For today’s trading, the expected range is projected between a support level of $965.00 and a resistance level of $1,000.00.

Related topic:

Best 5 Ways To Read Soybean Futures Prices

5 Things To Know Before Trading Soybean Futures

What Are Agricultural Futures? [Revealed]

Related Articles

blank

Welcome to sorafutures futures portal! Here, we illuminate pathways to tomorrow’s opportunities, equipping you with insights and resources to thrive in an ever-evolving world. With a blend of vision and pragmatism, we empower individuals to navigate uncertainties and seize their future with confidence.

Copyright © 2023 sorafutures.com