Soybean price attempts to recover – Analysis - 21-01-2021
Economies.com
2021-01-21 05:02AM UTC
Soybean price found solid support around 1350.00 barrier, to rebound bullishly and attempt to return to trade above the bullish trend line that appears on the chart, which hints the price head to resume the main bullish trend, but it needs to breach 1378.00 to confirm the continuation of the rise.
Therefore, we prefer staying aside temporarily until the price confirms its situation according to 1378.00, as failing to breach it will press on the price to return to the bearish track that targets 1290.60 mainly.
The expected trading range for today is between 1360.00 support and 1390.00 resistance.
The expected trend for today: Neutral
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