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Soybean price recently leaned on the 1311.70 level before rebounding upwards, affirming the ongoing bullish trend. This positive outlook is reinforced by the presence of the EMA50, with an eye on the next main target at 1348.30.
It’s crucial for the price to maintain levels above 1311.70 to keep the bullish trend intact. A breach below this support level would introduce a bearish bias into the market.
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In today’s trading, the anticipated range is between the support at 1310.00 and the resistance at 1348.00, and the prevailing trend remains bullish. Traders should align their strategies accordingly.
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