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Soybean price loses momentum – Analysis - 20-10-2022
Soybean price approached our first negative target at 1360.00 and bounced upwards to test the intraday bearish channel’s resistance, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the bearish wave that its targets extend to 1318.20.
Therefore, our bearish overview will remain valid conditioned by the price stability below 1402.10.
The expected trading range for today is between 1340.00 support and 1402.00 resistance.
The expected trend for today: Bearish
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