Soybean price surpasses the first target – Analysis - 13-07-2020
Economies.com
2020-07-13 04:21AM UTC
Soybean price succeeded to complete forming the double top pattern that appears on the chart to achieve our suggested target at 888.50 and breaks it to settle below it, confirming opening the way to extend the bearish wave on the intraday and short term basis, to head towards visiting 871.40 as a next main station.
Therefore, we suggest the continuation of the decline in the upcoming sessions, noting that breaching 888.50 will push the price to start new recovery attempts that target visiting 905.50 areas initially.
The expected trading range for today is between 875.00 support and 890.00 resistance.
The expected trend for today: Bearish
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