Soybean prices persist in their bullish trajectory, successfully surpassing our initial target at 1370.00. This development confirms the ongoing dominance of the bullish trend in the short term and sets the stage for an examination of the next major target at 1385.00.
The EMA50 continues to provide crucial support for this upward movement. It’s worth noting that a breach of the support level at 1365.00 could potentially trigger a pullback, with the key support level at 1348.30 coming into focus before any new attempts to resume the positive trend.
The anticipated trading range for today is expected to fluctuate between support at 1355.00 and resistance at 1400.00.
In summary, the prevailing trend for today is anticipated to remain bullish, with soybean prices exhibiting further potential for upward movement.
