Soybean price recently made an attempt to breach the level of 1160.00, although it struggled to sustain itself above this threshold for an extended period, revealing a slight bearish inclination. It is noteworthy that stochastic indicators are exhibiting clear positive momentum, poised to inspire the price to resume its anticipated bullish trajectory in the upcoming period, with the next primary target situated at 1193.10.
However, it’s crucial to acknowledge that a breach below 1145.00 could impede the anticipated ascent, subjecting the price to renewed negative pressure. In such a scenario, the market may revert to continuing the main bearish trend, with downside objectives starting at 1131.40 and extending to 1110.00.
The anticipated trading range for today oscillates between the support at 1140.00 and the resistance at 1170.00.
Expected Trend for Today: Bullish
