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On June 21, Economies analysts’ latest views today: CBOT soybean prices approached our extended target price of 1385.00, and rebounded and fell, heading for a potential test of the key support level of 1348.30. It is worth noting that the stochastic indicator is now providing a bullish signal. Waiting for the incentive price to resume the bullish trend, mind you, a break above 1385.00 will extend the bullish wave to 1430.40.
On the other hand, we should note that a break above 1348.30 will halt the expected rise and push prices lower again.
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Today’s expected trading range is between 1345.00 support and 1390.00 resistance.
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