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Soybean prices have successfully reached the anticipated target at 1332.60. A noteworthy rebound is observed from this level, propelling the price in a bullish direction within the established bullish channel on the chart. The trajectory suggests a continuation of the upward trend, with a primary target set at 1385.00.
Today, a bullish bias is expected, further supported by positive stochastic signals. It is essential to monitor the price’s behavior, with a potential deviation from the projected rise if it breaks below 1338.60.
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The projected trading range for today is anticipated to be between the support level at 1335.00 and the resistance level at 1380.00.
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Today’s Trend: Bullish
