Soybean price opened today’s trading with clear decline to reactivate the bearish trend scenario again, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that has negative targets that reach 1290.60.
Therefore, we expect witnessing more decline in the upcoming sessions unless the price rallied to breach 1380.00 and hold above it.
The expected trading range for today is between 1330.00 support and 1360.00 resistance.
The expected trend for today: Bearish