Soybean price surpasses the minor channel – Analysis - 04-03-2021

Soybean price achieved initial breach to the minor bearish channel that appears on the chart, which we believe it forms bullish flag pattern that forms positive motive to push the price to resume the main bullish trend, on its way to achieve positive targets that start by testing the recently recorded high at 1432.20.

Therefore, the bullish bias will be expected for today unless breaking 1385.00 and holding below it.

The expected trading range for today is between 1395.00 support and 1432.00 resistance.

The expected trend for today: Bullish