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In the latest update on soybean prices, the commodity concluded yesterday’s trading session with notable negativity. It breached the crucial support level at $1193.10 and settled below it, effectively halting the previously suggested bullish trend. This development indicates a shift towards resuming the primary bearish trend.
Analysts have identified targets ranging from $1164.00 to $1131.40 as the price now heads in a downward trajectory.
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Expected Trading Range for Today:
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- Support: $1150.00
- Resistance: $1193.00
Trend Forecast: Bearish
