Soybean price reaches the target – Analysis - 06-04-2020
Economies.com
2020-04-06 05:03AM UTC
Soybean price managed to break 859.80 to rally bearishly and reaches our main waited target at 851.40, noting that the negative effect of the previously completed double top pattern still active, which supports the chances of breaking the mentioned level to head towards 846.00 followed by 840.90 as next negative stations.
Therefore, we expect witnessing more decline in the upcoming sessions, noting that holding below 859.80 represents the first condition to continue the expected decline.
The expected trading range for today is between 850.00 support and 859.00 resistance.
The expected trend for today: Bearish
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