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Soybean prices have been trading positively, testing the $990.00 barrier. However, stochastic indicators are losing their positive momentum, which supports the expectation of a return to the bearish trend in the coming period, with a key target of $960.30.
The negative pressure from the 50-period exponential moving average (EMA50) strengthens the outlook for a decline, which remains valid as long as the price stays below the $993.00 resistance level.
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The expected trading range for today is between $975.00 (support) and $995.00 (resistance).
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Trend Forecast: Bearish
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