Soybean price provided additional positive trading yesterday to approach our waited target at 905.50, showing some bearish bias affected by stochastic negativity, and we suggest the continuation of the negative pressure to test 888.50 before determining the next destination.
Therefore, the bearish bias will be expected for today, noting that the continuation of the negative pressure and breaking the targeted level will push the price to continue the decline and visit 871.40 as a next negative station, while breaching 905.50 represents the key to rally to achieve more rise and head towards 926.50 on the near term basis.
The expected trading range for today is between 890.00 support and 906.00 resistance.
The expected trend for today: Bearish