Thursday Forecast
Uptrend scenario
The uptrend may be expected to continue in case the soybean market rises above resistance level 1180, which will be followed by reaching resistance level 1207.
Downtrend scenario
A downtrend will start as soon, as the soybean market drops below support level 1161.50, which will be followed by moving down to support level 1136.75 and if it keeps on moving down below that level, we may expect the soybean market to reach support level 1100.
This/Next Week Forecast (November 9 - 13, 2020)
Uptrend scenario
The uptrend may be expected to continue, while the soybean market is trading above support level 1136, which will be followed by reaching resistance level 1180.
Downtrend scenario
A downtrend will start as soon, as the soybean market drops below support level 1136, which will be followed by moving down to support level 1100.
Previous week soybean price forecast
Fundamental Analysis
The difference between supply and demand shows a fair price on the level 1180.
Monthly Forecast
Uptrend scenario
The uptrend may be expected to continue, while the soybean market is trading above support level 1063, which will be followed by reaching resistance level 1180.
Downtrend scenario
A downtrend will start as soon, as the soybean market drops below support level 1046, which will be followed by moving down to support level 1000 and 940.
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