Soybean price resumes the bearish bias – Forecast today - 17-04-2024
Economies.com
2024-04-17 03:39AM UTC
Soybean Price Analysis
Expected Scenario
- Soybean price provided new negative trades yesterday, nearing the intraday bullish channel’s support line.
- Further decline is expected to visit 1131.40$, representing the next main target.
- The bearish trend is suggested for the intraday and short-term basis, supported by negative pressure from the EMA50.
- Continued holding below 1193.10$ is a major condition for the expected decline to continue.
Expected Trading Range
Between 1131.00$ support and 1170.00$ resistance.
Trend Forecast: Bearish
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