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Soybean prices are witnessing a calm ascent, gradually edging closer to our awaited target at $1193.10. It’s important to remain vigilant as the price approaches this level, as breaching it signifies a pivotal moment that could extend the correctional bullish wave towards the $1231.20 areas in the near term.
The presence of the EMA50 lends support to the continuation of the suggested bullish wave, which remains contingent upon price stability above $1160.90.
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For today’s trading, the expected range is anticipated to be between a support level of $1170.00 and a resistance level of $1200.00.
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Forecast: Bullish
