Soybean price tests the support base – Analysis - 02-06-2020
Economies.com
2020-06-02 04:17AM UTC
Soybean price tested the key support base 841.70 yesterday and bounced bullishly from there, which keeps the bullish trend scenario valid and active for the upcoming period, waiting to breach 850.40 level to confirm extending the correctional bullish wave that targets 871.40 as a next main station.
The EMA50 provides the positive support to the price, noting that breaking 841.70 – 841.00 levels will stop the expected rise and press on the price to return to the main bearish track again.
The expected trading range for today is between 843.00 support and 860.00 resistance.
The expected trend for today: Bullish
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