Soybean price under the negative pressure – Analysis - 12-12-2019

Soybean price traded with clear negativity yesterday to break 906.2 and settles below it, which stops the recently suggested positive scenario and press on the price to turn to decline, on its way to achieve negative targets that begin by testing 894.2.

Therefore, the bearish bias will be suggested for today, noting that breaking the targeted level will push the price to 874.8 as a next main station, while breaching 906.2 represents the key to resume the correctional bullish trend again.

The expected trading range for today is between 892.0 support and 906.2 resistance.

The expected trend for today: Bearish