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Soybean prices are poised with a bullish bias, anticipated to surpass the $1200.00 barrier, affirming the prospects of a sustained upward trend. Analysts foresee the next target at $1231.20, backed by the EMA50 indicator and recent completion of a double bottom pattern. Maintaining levels above $1193.10 is identified as a pivotal condition for the continuation of this anticipated ascent.
Today’s trading range is projected as follows:
Support: $1190.00
Resistance: $1230.00
The trend forecast remains bullish, underlining the prevailing positive momentum in the soybean market.
