Soybean price presses on the support – Forecast today - 27-03-2024

Soybean Price Analysis

Soybean price begins today negatively, pressing on the intraday bullish trend line. The EMA50 continues to provide positive support to the price, while stochastic reaches the oversold areas.

• These factors encourage us to continue suggesting the correctional bullish trend.
• The target is set at 1231.20$ as the next station.
• Breaking 1193.10$ will stop the expected rise and push the price to return to the main bearish track again.

The expected trading range for today is between 1190.00$ support and 1220.00$ resistance.

Trend forecast: Bullish