Midday update for Soybean price 28-01-2020

Soybean price resumed its negative trading after testing the bearish channel’s resistance, to press on 895.70 and moves below it now, which supports the continuation of the bearish trend scenario efficiently in the upcoming sessions, paving the way to head towards 875.70 as a next main station, noting that the EMA50 supports the expected decline, which will remain valid unless breaching 908.10 level and holding above it.

The expected trading range for today is between 890.00 support and 908.00 resistance.

The expected trend for today: Bearish