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Soybean price encountered evident downward pressure last Friday, challenging the crucial support level at 1311.70. However, the price rebounded bullishly from this level, showcasing resilience against the negative force. This robust consolidation sustains the active bullish trend on an intraday basis. It’s worth noting that the next major target remains at 1348.30.
To reinforce expectations of an upward trajectory, a breach of 1328.00 is essential. It is imperative to emphasize that maintaining a position above 1311.70 is a pivotal condition for realizing the projected targets.
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The anticipated trading range for today spans between the support level of 1311.00 and the resistance level of 1348.00.
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Anticipated Trend for Today: Bullish
