Soybean price broke 1467.40 level strongly, starting today with more negativity to break 1431.50 level and opens the way to suffer more expected losses on the intraday and short term basis, to head towards visiting the recently recorded low at 1373.40 as a next negative target.
Therefore, we expect witnessing more decline in the upcoming sessions, supported by the EMA50, noting that breaching 1431.50 will lead the price to new positive attempts and head to visit 1467.40 areas initially.
The expected trading range for today is between 1395.00 support and 1425.00 resistance.
The expected trend for today: Bearish