Soybean prices have once again embarked on a downward trajectory, inching closer to the awaited target at 1348.30. This decline is well-structured within the confines of the bearish channel, as depicted on the chart. Analysts anticipate the breach of this crucial level, potentially unlocking further downside potential with targets extending to 1311.70.
The prevailing bearish scenario remains in force, contingent on the price’s ability to maintain a position below the 1385.00 threshold.
In today’s trading, the projected range is expected to oscillate between support at 1340.00 and resistance at 1370.00.
To summarize, soybean prices continue their bearish journey, with a sustained focus on reaching lower price targets. This negative trend remains firmly intact, barring any significant deviations.
