Soybean price tests the resistance – Analysis - 19-01-2022
Economies.com
2022-01-19 05:14AM UTC
Soybean price opens today’s trading with clear positivity to test the key resistance 1375.00, and the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum clearly.
Therefore, we believe that the chances valid to resume the expected bearish trend for the upcoming period, which its targets begin by breaking 1360.40 to confirm opening the way to head towards 1326.40, noting that breaching 1375.00 followed by 1384.00 levels will stop the suggested decline and lead the price to return to the bullish track again.
The expected trading range for today is between 1350.00 support and 1390.00 resistance.
The expected trend for today: Bearish
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