Soybean price tests the resistance – Analysis - 05-05-2021
Economies.com
2021-05-05 00:58AM UTC
Soybean price tested 1527.20 level and kept its stability below it, to keep the bearish trend scenario valid and active for the upcoming period, supported by stochastic negativity, waiting to test 1500.00 level initially.
On the other hand, we should note that breaching 1527.20 and holding above it will stop the expected decline and lead the price to resume the main bullish trend again.
The expected trading range for today is between 1500.00 support and 1535.00 resistance.
The expected trend for today: Bearish
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