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Soybean price tests the resistance again – Analysis - 21-10-2022
Soybean price traded positively yesterday to test 1402.10 level, as it keeps its stability below it, noticing that the price begins to decline by today’s open, to keep the bearish trend scenario active for the upcoming period, supported by stochastic negativity, waiting to head towards our negative targets that start at 1360.00 and extend to 1318.20.
On the other hand, we should note that breaching 1402.10 will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 1360.00 support and 1405.00 resistance.
The expected trend for today: Bearish
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