Soybean price approaches the target – Analysis - 25-01-2021

Soybean price resumed its negative trading strongly on last Friday to approach our waited negative target at 1290.60, reinforcing the expectations of continuing the bearish trend, being aware that we need to monitor the price when reaching the mentioned target, as breaking it will press on the price to achieve additional decline that its next target reaches 1203.00.

Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaking 1351.00 and holding above it.

The expected trading range for today is between 1290.00 support and 1315.00 resistance.

The expected trend for today: Bearish