Soybean price has successfully surpassed the crucial $1330.00 level, securing a position above it and signaling an impending pursuit of anticipated gains in the short term. The intraday trajectory is set to target the testing of the $1348.30 level, representing the primary objective. However, it’s essential to bear in mind that this expected rise is temporary, and there are prospects of a resumption of the main bearish trend.
Notably, stochastic indicators are issuing negative signals, suggesting a potential price decline. A decisive break below the $1330.00 level could halt the short-term positive scenario, paving the way for the realization of negative targets, commencing at $1311.70.
The expected trading range for today is anticipated between support at $1315.00 and resistance at $1348.00.
Expected Trend for Today: Bullish Temporarily
