Soybean price breaches the resistance – Analysis - 31-07-2020

Economies.com
2020-07-31 00:48AM UTC

Soybean price breached 888.50 and closed the daily candlestick above it, which leads the price to turn to rise, on its way to visit 905.50 as a first positive target.

 

Therefore, the bullish trend will be expected in the upcoming sessions, organized inside the bullish channel that appears on the chart, noting that the expected rise will remain valid unless breaking 888.50 followed by 880.00 levels and holding below them.

 

The expected trading range for today is between 885.00 support and 900.00 resistance.

 

The expected trend for today: Bullish

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