Weekly Forecast (August 17 - 21)
Uptrend scenario
The uptrend may be expected to continue in case the soybean market rises above resistance level 908, which will be followed by reaching resistance level 941.
Downtrend scenario
A downtrend will start as soon, as the soybean market drops below support level 989, which will be followed by moving down to support level 978.
Previous week forecast chart
Long-Term Forecast
(Quarter III: July - September, 2020)
Uptrend scenario
The uptrend may be expected to continue, while the soybean market is trading above support level 854, which will be followed by reaching resistance level 904 - 941 and if it keeps on moving up above that level, we may expect the soybean market to reach resistance level 997.
Downtrend scenario
A downtrend will start as soon, as the soybean market drops below support level 854, which will be followed by moving down to support level 816.
Fundamental Analysis
Difference between supply and demand do not show imbalance on the market and defines the current fair price in the range $900 - $855.
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