Soybean Price Maintains Positive Momentum – Forecast for March 18, 2024

by Jennifer

The price of soybeans has demonstrated resilience by testing the 1193.10 level and maintaining stability above it. Today, it begins with a clear positive sentiment, moving away from this level and reinforcing the continuation of the anticipated bullish trend on an intraday basis, with the next target set at 1231.20.

Positive signals from technical indicators further support the anticipated upward movement. It is essential to emphasize that the sustainability of the bullish wave hinges on the price maintaining stability above the 1193.10 level.


Today’s expected trading range is forecasted to fluctuate between the support level at 1190.00 and the resistance level at 1220.00.


Trend Forecast: Bullish

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