Soybean gets hits the first target – Analysis - 16-05-2022
Economies.com
2022-05-16 04:10AM UTC
Soybean price managed to achieve our first waited target at 1621.50 and settles there, waiting for more rise to breach this level and open the way to head towards our next positive target at 1660.00.
Therefore, the bullish trend scenario will remain valid on the intraday basis, noting that breaking 1580.00 will stop the expected rise and press on the price to return to the correctional bearish track again.
The expected trading range for today is between 1590.00 support and 1660.00 resistance.
The expected trend for today: Bullish
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