Soybean price approaches the target – Analysis - 27-01-2023

Soybean price provided clear positive trades yesterday to reinforce the expectations of continuing the bullish trend, and the way is open to achieve our waited target at 1537.60.

The EMA50 supports the expected rise, and breaching the mentioned level will extend the bullish wave to reach 1585.00 areas as a next main station, while holding above 1498.00 represents the first condition to continue the suggested bullish wave.

The expected trading range for today is between 1505.00 support and 1545.00 resistance.

The expected trend for today: Bullish