Soybean price breaks the support – Analysis - 25-09-2020

Soybean price succeeded to break the bullish channel’s support line that appears on the chart and settled below it, which supports the continuation of our bearish overview efficiently in the upcoming sessions, and the way is open to achieve our waited target at 993.40.

Therefore, we are waiting for more decline today, noting that breaching 1008.50 will stop the current negative pressure and leads the price to test 1039.60 areas before any new negative attempt.

The expected trading range for today is between 993.00 support and 1005.00 resistance.

The expected trend for today: Bearish