Soybean price breaches the resistance – Analysis - 29-01-2020

Soybean price rallied upwards strongly yesterday after finding solid support at 895.70, to attack 908.10 level and moves above it now, which leads the price to regain the main bullish trend, supported by the double bottom pattern that its signs appear on the chart, noting that we are waiting to visit 918.20 level as a next target.

Therefore, we expect witnessing more rise in the upcoming sessions, noting that breaking 908.10 and holding below it will put the price under negative pressure that targets testing 895.70 areas again.

The expected trading range for today is between 900.00 support and 918.10 resistance.

The expected trend for today: Bullish