Soybean price exits the bearish channel – Forecast today - 23-04-2024

Soybean Price Analysis

Expected Scenario

• Soybean price breached the intraday bearish channel’s resistance line and settled above it, heading towards achieving expected gains on the intraday basis, targeting testing 1193.10$ mainly.
• The bullish bias will be suggested for today unless breaking 1163.00$ and holding below it, noting that breaching the targeted level will lead the price to achieve bullish correction that its next target extends to 1231.20$ areas.

Expected Trading Range

Between the support at 1165.00$ and the resistance at 1200.00$