100
Soybean prices approached the anticipated mark of $1131.40, buoyed by slight bullish momentum influenced by stochastic indicators. However, the EMA50 continues to exert downward pressure, reinforcing the potential for a sustained bearish trend in the short term. A breach of the aforementioned level could trigger further declines towards the $1100.00 region.
Conversely, a breakthrough above $1157.70 would interrupt the anticipated downtrend, potentially paving the way for a recovery towards initial resistance at $1193.10.
Today’s Expected Trading Range
Analysts foresee today’s trading range to fluctuate between support at $1115.00 and resistance at $1150.00.
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Soybean Prices Continue Downward Trend