Soybean price returns to the bearish channel – Analysis - 14-02-2024
Economies.com
2024-02-14 04:28AM UTC
Soybean price opens today’s trading with clear negativity to return to the bearish channel again, reinforcing the expectations of continuing the bearish trend on the intraday and short-term basis, waiting to head towards 1171.50 that represents our next target, noting that breaking it will push the price towards 1150.00 areas as a next main station.
The EMA50 continues to support the suggested bearish wave, which will remain valid unless the price breached 1200.00 and hold above it.
The expected trading range for today is between 1165.00 support and 1190.00 resistance.
The expected trend for today: Bearish
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