Soybean price awaits more decline – Forecast today - 16-04-2024
Economies.com
2024-04-16 04:02AM UTC
Soybean Price Analysis
Expected Scenario
- Soybean price settles below the bearish channel’s resistance line, falling under continuous negative pressure formed by the EMA50, to keep the bearish trend scenario active for the upcoming period, reminding you that our next target is located at 1131.40$.
- On the other hand, we should note that breaching 1193.10$ will stop the expected decline and lead the price to achieve new bullish correction that its next target reaches 1231.20$.
Expected Outcome
The expected trading range for today is between 1150.00$ support and 1190.00$ resistance.
Trend Forecast: Bearish
Commodities News
Commodities
Nickel edges up as dollar tumbles
2024-05-15 15:57PM UTC
Nickel prices rose on Wednesday as the dollar slid against major rivals following major US ...
Commodities
Oil prices slide to 3-month trough on grim outlook for global demand
2024-05-15 14:37PM UTC
Global oil prices skidded in American trade on Wednesday to three-month lows, sharpening losses for ...
Commodities
Gold moves in a positive zone ahead of US inflation data
2024-05-15 09:19AM UTC
Gold prices rose in European trade on Wednesday, extending gains for the second straight day and ...
Commodities Technical Analysis
Commodities
Natural gas price continues the positive crawl – Forecast today – 16-5-2024
2024-05-16 05:41AM UTC
Natural Gas Price Analysis Expected Scenario Natural gas price started to form a ...
Commodities
Platinum price turned green – Forecast today – 16-5-2024
2024-05-16 05:35AM UTC
Platinum Price Analysis Expected Scenario Platinum price turned green in the ...
Commodities
Copper price takes breath – Forecast today – 16-5-2024
2024-05-16 05:35AM UTC
Copper Price Analysis Expected Scenario Copper price approached the first additional ...