The soybean market maintains its downward trajectory, nearing the anticipated target of $1193.10. There’s potential for further descent, with the subsequent target identified at $1165.
Despite the bearish outlook persisting in the foreseeable future, it’s crucial to acknowledge that breaching the $1231.20 mark could disrupt the anticipated decline, potentially paving the way for a bullish correction in both intraday and short-term trading.
Expected Trading Range for Today: Between $1180.00 (support) and $1215.00 (resistance).
Trend Forecast: Bearish