Soybean price achieves strong gains – Analysis - 01-07-2020

Soybean price rallied upwards strongly yesterday to breach 871.40 and reaches the thresholds of 888.50 level, to stop the recently suggested negative scenario and leads the price to achieve more expected gains in the upcoming period, organized inside the bullish channel that appears on the chart, noting that breaching the last level will push the price to 905.50 level as a next main station.

Therefore, the bullish trend will be expected on the intraday basis, noting that breaking 871.40 will stop the positive scenario and press on the price to return to the main bearish track again.

The expected trading range for today is between 875.00 support and 895.00 resistance.

The expected trend for today: Bullish