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Soybean price hits the first negative target – Analysis - 02-08-2022
Soybean price declined strongly yesterday to succeed achieving our waited target at 1402.10, noticing that the price begins today with additional negativity to attack the mentioned level, opening the way to continue the decline and head to achieve additional negative targets that reach 1355.00 followed by 1318.20.
Therefore, the bearish trend scenario will remain suggested for the upcoming period, noting that failing to consolidate below 1402.10 might push the price to achieve some gains on the intraday basis.
The expected trading range for today is between 1355.00 support and 1430.00 resistance.
The expected trend for today: Bearish
Corn price completes negative pattern – Analysis - 02-08-2022
Corn price provided clear negative trades yesterday, noticing that the price completed forming bearish flag pattern that supports the continuation of the expected bearish trend on the intraday basis, and the way is open to head towards our waited target at 575.00.
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