Soybean prices have encountered resistance at the $1028.80 level, leading to a bearish rebound and a potential resumption of the main downtrend. To confirm the continuation of this decline, the price needs to break below $1010.00, which would open the path to negative targets starting at $990.00 and potentially extending to $960.30.
However, stochastic positivity could delay this bearish movement. If prices manage to surpass $1028.80, it would halt the expected decline and could trigger a bullish correction.
Today’s expected trading range is between $990.00 support and $1028.00 resistance.
Trend Forecast: Bearish
Related topics: