Soybean price rises calmly – Forecast today - 24-04-2024

Soybean Price

Expected Scenario

• Soybean price trades positively to gradually crawl towards our waited target at 1193.10$, being aware that we need to monitor the price when reaching this level, as breaching it represents the key to extend the correctional bullish wave to target 1231.20$ areas on the near-term basis.
• Moving above the EMA50 supports the continuation of the suggested bullish wave, which will remain valid conditioned by the price stability above 1160.90$.

Expected Trading Range

The expected trading range for today is between 1170.00$ support and 1200.00$ resistance.