Soybean price fluctuates within sideways track recently as appears on the chart, approaching to test the EMA50 that continues to form negative pressure against the price, waiting to rebound bearishly to resume the correctional bearish trend, which its next main target located at 851.40.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 868.30 level, noting that surpassing 851.40 will push the price to 846.00 followed by 840.90 levels as next negative stations.
The expected trading range for today is between 850.00 support and 868.00 resistance.
The expected trend for today: Bearish