Soybean price has demonstrated positive momentum in recent sessions, reaching the 1228.00 level. The market is poised for additional upward movement, targeting the first key resistance at 1239.40. A successful breach of this level would confirm the continuation of the corrective bullish trend, setting the stage for a subsequent target at 1261.20.
The bullish outlook is supported by the positive signal from the stochastic indicator. Traders are advised to maintain a watchful eye on the support level at 1215.00; any break below this level could signal a shift in the trend.
The expected trading range for today is between the support at 1210.00 and the resistance at 1240.00. As the market evolves, it is recommended for traders to stay vigilant and adapt their strategies accordingly.
Anticipated Trend for Today: Bullish
