Technical analysis: Soybean prices are recovering

July 12th, Economies analysts’ latest opinion today: Soybean prices broke through the level of 1348.30 and remained above this level, starting to rise and may test 1385.00.

It is worth noting that a break above this level could lead to the 1430.40 area.

We therefore expect a more bullish bias over the next few sessions, supported by EMA50, noting that staying above 1348.30 is important to achieve the desired target. Today’s expected trading range is 1360.00-1400.00.