Soybean price keeps its negative stability – Analysis - 07-08-2020
Economies.com
2020-08-07 04:16AM UTC
Soybean price settles below the broken support of the bullish channel, to keep the negative pressure valid for the upcoming period, supported by the EMA50, waiting to test 871.40 level initially, noting that breaking this level will extend the bearish wave to reach 850.40.
On the other hand, we should note that breaching 888.50 will stop the expected decline and lead the price to resume the short term bullish wave.
The expected trading range for today is between 870.00 support and 883.00 resistance.
The expected trend for today: Bearish
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