83
Soybean prices reached the anticipated target of $1130.60, encountering strong resistance which has prompted a negative start today, signaling a potential continuation of the prevailing bearish trend. The next target is aimed at the recent low of $1095.60.
Anticipated trading in the sessions ahead is expected to be negative, influenced by current stochastic indicators showing negativity. It is noteworthy that surpassing the $1130.60 level could interrupt the anticipated decline and pave the way for additional bullish correction, targeting $1152.20.
Expected Trading Range:
The expected trading range is between support at $1095.00 and resistance at $1130.00.
Related topics:
U.S. Farmers Defy Weather Challenges to Plant Corn and Soybean Acreage