Soybean price attempts to recover – Forecast today - 26-04-2024

Soybean Price Analysis

Expected Scenario

• The soybean price has returned to rise after a previous decline, remaining consolidated above the EMA50.
• It is waiting for more intraday rise to target 1193.10$ mainly.
• Stochastic current negativity might hinder the price's mission to rise, causing some temporary sideways fluctuation.
• Continuation of the bullish wave requires holding above 1170.00$ and 1155.00$ levels.

Expected Trading Range

Between the support at 1165.00$ and the resistance at 1193.00$.