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Soybean Price Analysis
Expected Scenario
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The soybean price continues to exhibit a bearish bias, successfully hitting our first negative target at $1150.00. Analysts anticipate a further decline, aiming to surpass this level and reach the next main target at $1131.40.
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Consequently, the bearish trend is expected to persist in the upcoming period. It’s noteworthy that breaching the $1169.00 level would alleviate the current negative pressure, potentially leading to intraday gains reaching $1193.10 before resuming the downward movement.
Expected Trading Range
The anticipated trading range is between the support level at $1135.00 and the resistance level at $1165.00.
Trend Forecast: Bearish
