Advertisements

Soybean Price Extends Losses, Achieves Initial Bearish Target

by Jennifer

Soybean price has entered into a new round of negative trades at the commencement of today’s session, surpassing the initial bearish target at 1330.00. This development has further paved the way for continued downside momentum on an intraday basis, with the next anticipated target standing at 1311.70.

The current market outlook maintains the validity of the bearish trend scenario for the upcoming period. It is crucial to note that breaching the resistance level at 1353.00 would signal a halt to the bearish trend, potentially prompting the price to make efforts to revert to the primary bullish trajectory.

Advertisements

The expected trading range for today is foreseen to lie between the support level at 1300.00 and the resistance level at 1340.00.

Advertisements

The prevailing trend expectation for today remains bearish, aligning with the ongoing negative sentiment in the market.

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News