Advertisements

Soybean Price Resumes the Decline – Forecast for Today, June 26, 2024

by Jennifer

Soybean Price Analysis

Expected Scenario:

Advertisements

Soybean price experienced a clear decline yesterday after testing the $1131.40 level in previous sessions, reinforcing expectations for a continuation of the bearish trend on both intraday and short-term bases. Currently, we anticipate a potential move towards the next target at $1100.00. Today’s positive start is influenced by stochastic positivity, which may lead the price to test the resistance of the bearish channel before resuming its decline. It’s crucial to note that the bearish momentum will likely persist as long as the price remains stable below $1131.40.

Advertisements

Key Levels to Watch:

  • Support: $1100.00
  • Resistance: $1130.00

Expected Trading Range:

Between $1100.00 (support) and $1130.00 (resistance).

Trend Forecast:

Bearish

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News