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Recent trades in soybean prices have been restricted within a minor bullish channel, which appears to be forming a bearish flag pattern. A break below $970.00 could trigger a continuation of the primary bearish trend, potentially driving prices below $960.30 and targeting a low of $930.00. Stochastic indicators are showing negative signals, reinforcing the likelihood of a decline in the coming sessions, unless prices break above $995.00 and maintain that level.
Today’s anticipated trading range is between $955.00 support and $980.00 resistance.
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Best 5 Ways To Read Soybean Futures Prices