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Soybean prices continue to exhibit bearish behavior, falling below the $1050.00 level and reinforcing the expectation of a sustained downtrend. The next targets are set at $1035.00 and $1000.00.
The EMA50 continues to support the suggested bearish wave. However, temporary sideways fluctuations might occur due to stochastic positivity. It is important to note that breaching the $1059.00 level would halt the decline, potentially leading to recovery attempts and gains up to $1097.00 in the near term.
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The expected trading range for today is between $1025.00 support and $1150.00 resistance.
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Trend Forecast: Bearish
