Soybean price broke the bullish channel’s support line and settled below it, to activate the bearish trend scenario on the intraday basis, on its way to visit 871.40 as a first negative target.
Therefore, the bearish bias will be expected for today, noting that surpassing the mentioned level will push the to 850.40 as a next negative station, while the expected decline will remain valid unless breaching 888.50 and holding above it.
The expected trading range for today is between 870.00 support and 895.00 resistance.
The expected trend for today: Bearish