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In the latest price analysis, soybean continues its downward trajectory, extending losses beyond the $1193.10 level observed yesterday. This further solidifies expectations for the continuation of the bearish trend in forthcoming sessions, with targets set at $1150.00 and subsequently $1131.40.
The prevailing outlook suggests a continued decline in the near term, with a breach above $1193.10, followed by $1202.00, signaling a potential reversal of the bearish trend and a shift towards upward movement.
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Traders should anticipate trading within the range bounded by support at $1150.00 and resistance at $1190.00.
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Trend Forecast: Bearish
