Soybean Price Rebounds from Target, Resumes Bullish Trajectory

Soybean prices have successfully reached the anticipated target at 1332.60. A noteworthy rebound is observed from this level, propelling the price in a bullish direction within the established bullish channel on the chart. The trajectory suggests a continuation of the upward trend, with a primary target set at 1385.00.

Today, a bullish bias is expected, further supported by positive stochastic signals. It is essential to monitor the price’s behavior, with a potential deviation from the projected rise if it breaks below 1338.60.

The projected trading range for today is anticipated to be between the support level at 1335.00 and the resistance level at 1380.00.

Today’s Trend: Bullish