Soybean price hits the target – Analysis - 14-02-2020

Soybean price succeeded to touch our waited target at 904.80 and begins to rebound bearishly from there, which hints the price head to resume the main bearish trend, and the price needs to break 893.90 to open the way to achieve more negative targets that begin at 876.30 and extend to 870.00.

Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 904.80 will push the price to achieve more bullish correction that its next target reaches 913.50.

The expected trading range for today is between 893.00 support and 904.00 resistance.

The expected trend for today: Bearish