Soybean Price Breaks Through Resistance

Soybean prices have made a significant breakthrough, surging past the 1311.70 level and coming close to our initial extended target at 1328.50. This development strengthens the expectations for the continuation of the bullish trend on both intraday and short-term scales. It’s worth noting that our subsequent target stands at 1348.30.

As a result, the optimistic scenario is expected to maintain its dominance in the upcoming sessions, supported by the EMA50. It is crucial to sustain levels above 1311.70 to realize the projected targets.

The expected trading range for today is likely to fluctuate between support at 1310.00 and resistance at 1348.00, with the prevailing trend being bullish.