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Soybean price is currently hovering around the 1385.00 level and consolidating above it. Notably, stochastic indicators exhibit a clear gain in positive momentum, and the EMA50 remains a consistent source of support for the price.
Given these indicators, the prevailing outlook suggests a continuation of the bullish trend in the upcoming period. The primary targets for this trend are set at 1400.00, followed by 1430.40. However, it is essential for the price to maintain a position above 1381.50 to realize these targets successfully.
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The anticipated trading range for today is expected to oscillate between the support at 1370.00 and the resistance at 1410.00.
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Projected Trend for Today: Bullish
