Commodities

Soybean price surpasses the recent top – Analysis - 12-05-2021

2021-05-12 00:04:20 GMT (Economies.com)

Soybean price rallied upwards to surpass the recently recorded top at 1573.30 and settles above it, which supports the continuation of our bullish overview efficiently for the upcoming period, paving the way to head towards our next main target at 1600.00.

 

The EMA50 keeps supporting the suggested bullish wave, which will remain valid conditioned by the price stability above 1545.00.

 

The expected trading range for today is between 1560.00 support and 1600.00 resistance.

 

The expected trend for today: Bullish

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