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Soybean prices have successfully reached the awaited target at 1311.70 and demonstrated an attempt to breach this level. The bearish bias is expected to persist in upcoming sessions, guiding the price towards the next downside target at 1296.00.
Continuous negative pressure from the EMA50 and a clear loss of positive momentum in the stochastic indicator support expectations for a decline in the intraday and short-term periods. It is crucial to monitor the 1330.00 level, as a breach could halt the negative scenario and trigger a potential recovery.
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For today, the anticipated trading range is between the support at 1295.00 and the resistance at 1335.00.
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Expected Trend for Today: Bearish
