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Soybean prices recently hit a high of $1,028.80 but faced strong resistance at this level, which aligns with the 23.6% Fibonacci retracement of the decline from $1,250.70 to $960.30. A breakthrough above this resistance could pave the way for further gains, potentially targeting $1,071.20. The EMA50 indicator supports the anticipated upward trend, provided prices remain above $990.00.
Today’s trading range is expected to be between $1,005.00 and $1,035.00.
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Best 5 Ways To Read Soybean Futures Prices