Soybean Weekly Forecast, August 24 - 28

Weekly Forecast
(August 24 - 28, 2020)

Uptrend scenario
An uptrend will start as soon, as the soybean market rises above resistance level 917, which will be followed by moving up to resistance level 941.
Downtrend scenario
A downtrend will start as soon, as the soybean market drops below support level 895, which will be followed by moving down to support level 878 and 858.

Previous week soybean price forecast

Quarterly 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

According to 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.