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The soybean price commenced today’s trading session with evident positivity, breaking through the 1348.30 level and making strides to distance itself from it. This move signals an inclination to resume the primary bullish trend, with anticipated gains ranging from 1371.50 to 1385.00.
Consequently, expectations lean towards further intraday ascension, underpinned by the price’s positioning above the EMA50. It’s crucial to observe that a breach of the 1348.30 level would halt the positive scenario, subjecting the price to renewed downward pressure.
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The projected trading range for today is anticipated to span from the support level at 1340.00 to the resistance level at 1370.00.
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Expected Trend for Today: Bullish
