Technical analysis: CBOT soybean prices face solid resistance on July 18

July 18th, Economies analysts’ latest opinion today: CBOT soybean prices continue to fluctuate at the resistance line of 1385.00, and the intraday sideways trading will continue. The price needs to break through the above resistance or fall below the support line of 1311.70 to be clearly determined a goal.

Note that continued consolidation with an attempt to rise around 1385.00 will push the price down towards the support line of the range mentioned above.

Today’s expected trading range is between 1360.00 support and 1400.00 resistance.