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Soybean prices have once again rallied upward, successfully surpassing our second target at 1348.30 and maintaining a position above it. This paves the way for a continuation of the upward movement in the short term, with the next objectives set at 1370.00 and 1385.00.
The ongoing bullish trend is well-supported by the EMA50, and it is essential for the price to remain above 1348.30 to sustain the anticipated upward trajectory.
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The projected trading range for the day is expected to oscillate between support at 1345.00 and resistance at 1385.00.
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Today’s expected trend: Bullish
