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Expected Scenario
Soybean price hovers around the $1321.20 level, striving to consolidate below it. Stochastic indicators provide negative signals, which we anticipate will prompt the price to resume the anticipated bearish trend on an intraday basis, targeting $1193.10 as the next objective.
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Maintaining levels below $1231.20 is crucial for the continuation of the anticipated decline. A breach of this level would interrupt the negative scenario and lead to an additional bullish correction, with the next target set at $1262.10.
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Expected Trading Range
The anticipated trading range spans between the support level at $1210.00 and the resistance level at $1240.00.
Trend Forecast: Bearish
